Amc Networks (NASDAQ:AMCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “
A number of other research firms have also recently commented on AMCX. BidaskClub raised shares of Amc Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 11th. Imperial Capital cut shares of Amc Networks from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $64.00 to $56.00 in a research report on Thursday, January 31st. Deutsche Bank boosted their target price on shares of Amc Networks from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, November 5th. ValuEngine raised shares of Amc Networks from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Amc Networks from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Amc Networks has an average rating of “Hold” and a consensus target price of $62.83.
Shares of NASDAQ AMCX traded down $0.37 during trading on Tuesday, reaching $64.09. 14,598 shares of the stock were exchanged, compared to its average volume of 555,684. Amc Networks has a twelve month low of $48.83 and a twelve month high of $69.02. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 10.69. The stock has a market cap of $3.64 billion, a P/E ratio of 8.70, a PEG ratio of 1.03 and a beta of 0.91.
A number of hedge funds have recently added to or reduced their stakes in the business. APG Asset Management N.V. increased its stake in Amc Networks by 252.2% during the fourth quarter. APG Asset Management N.V. now owns 421,600 shares of the company’s stock valued at $20,240,000 after purchasing an additional 301,900 shares during the last quarter. Amalgamated Bank increased its stake in Amc Networks by 57.7% during the fourth quarter. Amalgamated Bank now owns 10,299 shares of the company’s stock valued at $565,000 after purchasing an additional 3,768 shares during the last quarter. HRT Financial LLC bought a new stake in Amc Networks during the fourth quarter valued at $417,000. Macquarie Group Ltd. increased its stake in Amc Networks by 1.0% during the fourth quarter. Macquarie Group Ltd. now owns 31,300 shares of the company’s stock valued at $1,717,000 after purchasing an additional 300 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in Amc Networks by 160.8% during the fourth quarter. Hancock Whitney Corp now owns 16,827 shares of the company’s stock valued at $924,000 after purchasing an additional 10,374 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.
Amc Networks Company Profile
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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