AMC Networks (NASDAQ:AMCX) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of AMC Networks (NASDAQ:AMCX – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley boosted their price objective on AMC Networks from $19.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, February 21st. TheStreet raised AMC Networks from a “d+” rating to a “c-” rating in a report on Wednesday, March 1st. Finally, Wells Fargo & Company boosted their price objective on AMC Networks from $10.00 to $15.00 and gave the company an “underweight” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.17.

AMC Networks Stock Up 4.8 %

Shares of NASDAQ AMCX opened at $14.02 on Thursday. AMC Networks has a 1 year low of $13.37 and a 1 year high of $42.67. The firm has a market cap of $603.00 million, a price-to-earnings ratio of 140.21 and a beta of 1.18. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.74 and a current ratio of 1.74. The stock’s 50-day simple moving average is $16.81 and its 200-day simple moving average is $18.32.

AMC Networks (NASDAQ:AMCX – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.81. AMC Networks had a return on equity of 41.85% and a net margin of 0.23%. The business had revenue of $717.45 million for the quarter, compared to analyst estimates of $700.77 million. During the same period in the previous year, the company earned $2.54 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts anticipate that AMC Networks will post 6.75 earnings per share for the current fiscal year.

Insider Transactions at AMC Networks

In other news, EVP James Gallagher sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $23.15, for a total transaction of $463,000.00. Following the sale, the executive vice president now directly owns 28,867 shares in the company, valued at approximately $668,271.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.29% of the company’s stock.

Institutional Trading of AMC Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of AMC Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,158,192 shares of the company’s stock worth $64,111,000 after purchasing an additional 30,925 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AMC Networks by 3.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,423,986 shares of the company’s stock worth $28,908,000 after purchasing an additional 42,312 shares during the period. Invesco Ltd. raised its position in shares of AMC Networks by 280.9% during the 1st quarter. Invesco Ltd. now owns 1,377,018 shares of the company’s stock worth $55,948,000 after purchasing an additional 1,015,493 shares during the period. State Street Corp grew its holdings in AMC Networks by 1.5% in the 1st quarter. State Street Corp now owns 1,130,868 shares of the company’s stock worth $19,881,000 after buying an additional 16,984 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in AMC Networks by 123.2% in the 4th quarter. Millennium Management LLC now owns 885,753 shares of the company’s stock worth $13,880,000 after buying an additional 488,956 shares in the last quarter. 63.13% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Company Profile

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AMC Networks, Inc is a holding company, which engages in the owning and management of cable television networks through its subsidiaries. It operates through the Domestic Operations, and International and Other segments. The Domestic Operations segment includes programming services and AMC Broadcasting and Technology.