Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Price Target at $7.33

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned an average recommendation of “Strong Sell” from the five brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.6667.

AMCX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, January 21st. Finally, Morgan Stanley set a $7.00 target price on shares of AMC Networks in a report on Thursday, April 30th.

Insider Buying and Selling

In related news, CAO Michael J. Sherin III sold 5,963 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total transaction of $47,465.48. Following the sale, the chief accounting officer owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. The trade was a 35.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

Several institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of AMC Networks by 13.8% in the fourth quarter. CWM LLC now owns 11,858 shares of the company’s stock valued at $113,000 after purchasing an additional 1,437 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of AMC Networks by 14.1% in the fourth quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock valued at $113,000 after purchasing an additional 1,473 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of AMC Networks by 6.8% in the fourth quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock valued at $252,000 after purchasing an additional 1,680 shares in the last quarter. Man Group plc lifted its holdings in shares of AMC Networks by 6.7% in the second 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 in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of AMC Networks by 18.2% in the third quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after purchasing an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Price Performance

Shares of NASDAQ:AMCX opened at $8.47 on Thursday. The company’s fifty day moving average price is $7.66 and its 200 day moving average price is $8.15. AMC Networks has a 12 month low of $5.41 and a 12 month high of $10.27. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a market capitalization of $361.75 million, a P/E ratio of 6.18 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. The company had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. AMC Networks’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that AMC Networks will post 1.79 earnings per share for the current fiscal year.

AMC Networks Company Profile

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.