AMC Networks (NASDAQ:AMCX) Upgraded at StockNews.com

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other research firms have also commented on AMCX. Wells Fargo & Company dropped 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, April 17th. JPMorgan Chase & Co. dropped their target price on AMC Networks from $8.00 to $6.00 and set an “underweight” rating for the company in a research report on Monday. Morgan Stanley dropped their target price on AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Monday. Finally, UBS Group dropped their target price on AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.38.

AMC Networks Trading Up 4.6%

AMCX opened at $6.42 on Tuesday. The firm has a market cap of $283.35 million, a P/E ratio of -1.22 and a beta of 1.43. AMC Networks has a 12 month low of $5.41 and a 12 month high of $18.58. 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 has a 50-day moving average of $6.46 and a 200 day moving average of $8.13.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, May 9th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.21). The company had revenue of $555.23 million during the quarter, compared to analysts’ expectations of $567.23 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, research analysts forecast that AMC Networks will post 2.62 EPS for the current year.

Insider Buying and Selling at AMC Networks

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks 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 completion of the sale, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. The trade was a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of AMC Networks by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock valued at $229,000 after acquiring an additional 2,043 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of AMC Networks during the fourth quarter valued at approximately $414,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of AMC Networks during the fourth quarter valued at approximately $631,000. Contrarius Group Holdings Ltd bought a new stake in shares of AMC Networks during the fourth quarter valued at approximately $5,359,000. Finally, JPMorgan Chase & Co. raised its stake in shares of AMC Networks by 333.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

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.