Other research analysts have also recently issued research reports about the stock. Seaport Res Ptn cut shares of AMC Networks from a buy rating to a neutral rating in a report on Tuesday, December 12th. TheStreet cut AMC Networks from a c- rating to a d rating in a research note on Wednesday, November 1st. Finally, The Goldman Sachs Group reduced their target price on AMC Networks from $20.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, AMC Networks has an average rating of Hold and an average price target of $11.75.
AMC Networks Trading Up 2.1 %
AMC Networks (NASDAQ:AMCX – Get Free Report) last issued its earnings results on Friday, February 9th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $678.80 million for the quarter, compared to analysts’ expectations of $675.97 million. AMC Networks had a net margin of 7.95% and a return on equity of 30.74%. The business’s revenue for the quarter was down 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 EPS. As a group, analysts anticipate that AMC Networks will post 6.24 earnings per share for the current year.
Insider Activity at AMC Networks
In related news, EVP James Gallagher sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $20.40, for a total value of $448,800.00. Following the sale, the executive vice president now owns 6,867 shares in the company, valued at $140,086.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James Gallagher sold 22,000 shares of AMC Networks stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $20.40, for a total transaction of $448,800.00. Following the transaction, the executive vice president now owns 6,867 shares in the company, valued at approximately $140,086.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kimberly Kelleher sold 13,192 shares of AMC Networks stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $15.28, for a total transaction of $201,573.76. The disclosure for this sale can be found here. Insiders sold 85,192 shares of company stock valued at $1,604,874 over the last 90 days. Corporate insiders own 27.06% of the company’s stock.
Institutional Investors Weigh In On AMC Networks
Several large investors have recently added to or reduced their stakes in AMCX. American Century Companies Inc. boosted its position in AMC Networks by 26.6% in the 1st quarter. American Century Companies Inc. now owns 9,462 shares of the company’s stock valued at $384,000 after buying an additional 1,987 shares during the period. PNC Financial Services Group Inc. boosted its position in AMC Networks by 18.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock valued at $195,000 after buying an additional 751 shares during the period. Bank of Montreal Can lifted its position in shares of AMC Networks by 5.0% in the 1st quarter. Bank of Montreal Can now owns 9,179 shares of the company’s stock worth $393,000 after purchasing an additional 437 shares during the period. MetLife Investment Management LLC boosted its stake in shares of AMC Networks by 54.0% during the first quarter. MetLife Investment Management LLC now owns 15,600 shares of the company’s stock valued at $634,000 after purchasing an additional 5,467 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of AMC Networks by 4.6% during the first quarter. Rhumbline Advisers now owns 90,044 shares of the company’s stock valued at $3,658,000 after purchasing an additional 3,996 shares in the last quarter. 59.77% of the stock is owned by hedge funds and other 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 and a platform to distributors and advertisers in the United States and internationally. The company operates through Domestic Operations, and International and Other.
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