Morgan Stanley Has Lowered Expectations for AMC Networks (NASDAQ:AMCX) Stock Price

AMC Networks (NASDAQ:AMCX) had its target price decreased by research analysts at Morgan Stanley from $6.00 to $5.50 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 6.86% from the company’s current price.

A number of other brokerages also recently commented on AMCX. 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. UBS Group cut their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Finally, StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AMC Networks currently has a consensus rating of “Hold” and an average target price of $5.88.

AMC Networks Price Performance

Shares of NASDAQ AMCX traded down $0.43 during midday trading on Monday, reaching $5.91. 108,387 shares of the stock traded hands, compared to its average volume of 993,746. The company’s 50 day moving average is $6.53 and its 200 day moving average is $8.19. AMC Networks has a one year low of $5.41 and a one year high of $18.58. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market capitalization of $260.62 million, a PE ratio of -1.12 and a beta of 1.43.

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

Insider Transactions at AMC Networks

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the transaction, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This represents a 88.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in AMC Networks by 17.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company’s stock valued at $4,702,000 after acquiring an additional 100,158 shares during the last quarter. US Bancorp DE increased its stake in AMC Networks by 3,351.9% during the first quarter. US Bancorp DE now owns 10,045 shares of the company’s stock worth $69,000 after acquiring an additional 9,754 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in AMC Networks in the first quarter valued at $103,000. Readystate Asset Management LP raised its position in AMC Networks by 352.5% in the first quarter. Readystate Asset Management LP now owns 405,383 shares of the company’s stock valued at $2,789,000 after purchasing an additional 315,787 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of AMC Networks by 570.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company’s stock worth $625,000 after buying an additional 77,350 shares during the period. Institutional investors and hedge funds 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.