UBS Group Cuts AMC Networks (NASDAQ:AMCX) Price Target to $6.00

AMC Networks (NASDAQ:AMCX) had its price target trimmed by UBS Group from $8.00 to $6.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a sell rating on the stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Thursday, February 20th. Finally, StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AMC Networks presently has an average rating of “Hold” and an average target price of $6.50.

AMC Networks Stock Up 2.0 %

AMCX stock opened at $6.10 on Tuesday. The stock has a market cap of $269.23 million, a P/E ratio of -1.16 and a beta of 1.28. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The stock’s fifty day simple moving average is $7.11 and its two-hundred day simple moving average is $8.38. AMC Networks has a 1-year low of $5.41 and a 1-year high of $18.58.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). The company had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. Analysts expect that AMC Networks will post 2.62 EPS for the current year.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the sale, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This represents a 88.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 25.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMCX. Russell Investments Group Ltd. grew its position in AMC Networks by 45.7% during the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares in the last quarter. Gabelli Funds LLC increased its position in shares of AMC Networks by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock worth $1,325,000 after purchasing an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in AMC Networks by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock valued at $494,000 after purchasing an additional 1,589 shares in the last quarter. Rhumbline Advisers lifted its position in AMC Networks by 2.9% during the fourth quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock valued at $597,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after buying an additional 1,918 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.