AMC Networks Inc. (NASDAQ:AMCX) Given Average Rating of “Strong Sell” by Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average rating of “Strong Sell” from the six brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.00.

AMCX has been the subject of several research reports. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their target price on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Morgan Stanley upped their price target on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, December 18th. Finally, Seaport Research Partners cut AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th.

Institutional Trading of AMC Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV acquired a new position in shares of AMC Networks during the 4th quarter valued at about $113,000. Empowered Funds LLC increased its position in AMC Networks by 11.0% during the fourth quarter. Empowered Funds LLC now owns 267,020 shares of the company’s stock worth $2,542,000 after purchasing an additional 26,502 shares during the last quarter. Numerai GP LLC raised its stake in AMC Networks by 542.0% during the fourth quarter. Numerai GP LLC now owns 149,979 shares of the company’s stock worth $1,428,000 after purchasing an additional 126,617 shares during the period. Odyssean LLC purchased a new position in AMC Networks during the fourth quarter worth about $106,000. Finally, Millennium Management LLC boosted its holdings in AMC Networks by 1,309.4% in the 4th quarter. Millennium Management LLC now owns 346,923 shares of the company’s stock valued at $3,303,000 after purchasing an additional 322,308 shares during the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Trading Down 1.1%

Shares of AMCX opened at $7.96 on Wednesday. AMC Networks has a 52-week low of $5.41 and a 52-week high of $10.27. The stock has a market cap of $339.97 million, a PE ratio of 5.81 and a beta of 1.06. The firm’s fifty day moving average is $8.13 and its two-hundred day moving average is $8.20. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. The business had revenue of $594.80 million during the quarter, compared to analysts’ expectations of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. Research analysts forecast that AMC Networks will post 2.62 earnings per share for the current fiscal year.

About AMC Networks

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.