AMC Networks Inc. (NASDAQ:AMCX) Receives Average Recommendation of “Reduce” from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus rating of “Reduce” from the five research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.50.

Several research analysts recently issued reports on AMCX shares. JPMorgan Chase & Co. reduced their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. UBS Group lowered their target price on AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price target on AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Morgan Stanley lowered their price objective 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.

AMC Networks Stock Performance

Shares of AMCX opened at $6.10 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a 50-day moving average of $7.03 and a two-hundred day moving average of $8.36. The stock has a market cap of $269.23 million, a P/E ratio of -1.16 and a beta of 1.28. AMC Networks has a one year low of $5.41 and a one year high of $18.58.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. During the same period last year, the firm earned $0.72 EPS. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts predict that AMC Networks will post 2.62 EPS for the current year.

Insider Activity at AMC Networks

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.95, for a total value 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 trade represents a 88.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On AMC Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Exchange Traded Concepts LLC increased its stake in shares of AMC Networks by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 34,771 shares of the company’s stock worth $239,000 after purchasing an additional 3,930 shares in the last quarter. RWWM Inc. increased its stake in AMC Networks by 74.3% during the 1st quarter. RWWM Inc. now owns 2,712,921 shares of the company’s stock worth $18,665,000 after buying an additional 1,156,267 shares in the last quarter. Range Financial Group LLC increased its stake in AMC Networks by 54.9% during the 1st quarter. Range Financial Group LLC now owns 26,840 shares of the company’s stock worth $185,000 after buying an additional 9,509 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of AMC Networks by 254.1% during the first quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after acquiring an additional 3,732 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of AMC Networks in the fourth quarter valued at approximately $141,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.