AMC Networks (NASDAQ:AMCX) Rating Increased to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of AMC Networks (NASDAQ:AMCX) from an underweight rating to an equal weight rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $8.00 target price on the stock, up from their previous target price of $5.00.

AMCX has been the topic of several other reports. Zacks Research cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, AMC Networks has a consensus rating of “Strong Sell” and an average target price of $6.38.

AMC Networks Stock Performance

Shares of AMCX stock opened at $8.09 on Monday. The company has a market capitalization of $350.98 million, a price-to-earnings ratio of -1.85 and a beta of 1.43. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.07 and a current ratio of 2.07. AMC Networks has a one year low of $5.41 and a one year high of $10.60. The company’s 50-day moving average is $7.77 and its 200 day moving average is $6.88.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.13). AMC Networks had a positive return on equity of 15.73% and a negative net margin of 7.42%.The firm had revenue of $561.74 million during the quarter, compared to the consensus estimate of $549.27 million. During the same quarter in the prior year, the company posted $0.91 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. AMC Networks has set its FY 2025 guidance at EPS. Sell-side analysts expect that AMC Networks will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its position in AMC Networks by 10.8% in the first quarter. Hsbc Holdings PLC now owns 17,178 shares of the company’s stock worth $120,000 after acquiring an additional 1,674 shares in the last quarter. Man Group plc lifted its stake in shares of AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after purchasing an additional 1,735 shares during the last quarter. CWM LLC lifted its stake in shares of AMC Networks by 50.4% in the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock valued at $36,000 after purchasing an additional 1,909 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of AMC Networks by 1.6% in the 1st quarter. Gabelli Funds LLC now owns 136,000 shares of the company’s stock worth $936,000 after purchasing an additional 2,200 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in shares of AMC Networks by 10.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 26,134 shares of the company’s stock valued at $215,000 after purchasing an additional 2,552 shares during the last quarter. 78.51% of the stock is owned by 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.