AMC Networks Inc. (NASDAQ:AMCX) Receives $7.00 Average Price Target from Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has earned a consensus rating of “Strong Sell” from the six analysts that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.00.

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

AMC Networks Price Performance

AMCX stock opened at $7.21 on Wednesday. The firm has a market cap of $307.94 million, a P/E ratio of 5.26 and a beta of 1.06. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.67 and a current ratio of 1.67. AMC Networks has a 1 year low of $5.41 and a 1 year high of $10.27. The stock has a 50-day simple moving average of $8.01 and a 200-day simple moving average of $8.19.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The firm had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.AMC Networks’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. On average, equities analysts predict that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Activity at AMC Networks

In related news, CAO Michael J. Sherin III sold 5,963 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the completion of the transaction, the chief accounting officer owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. This represents a 35.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.62% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

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

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.