AMC Networks (NASDAQ:AMCX) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also commented on AMCX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AMC Networks in a research report on Wednesday, November 4th. Wells Fargo & Company increased their price objective on AMC Networks from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Morgan Stanley decreased their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, October 15th. UBS Group raised their target price on shares of AMC Networks from $6.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 10th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AMC Networks has an average rating of “Strong Sell” and an average target price of $10.00.

AMC Networks Stock Performance

Shares of AMCX traded up $0.17 during midday trading on Friday, reaching $9.50. 443,977 shares of the stock were exchanged, compared to its average volume of 767,507. AMC Networks has a twelve month low of $6.47 and a twelve month high of $12.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.90 and a quick ratio of 1.76. The company has a market capitalization of $391.88 million, a price-to-earnings ratio of -2.85 and a beta of 1.55. The business’s 50-day moving average price is $10.42 and its 200 day moving average price is $9.51.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Monday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. The firm had revenue of $566.07 million during the quarter, compared to analysts’ expectations of $573.28 million. AMC Networks had a positive return on equity of 5.58% and a negative net margin of 6.38%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts expect that AMC Networks will post 2.59 EPS for the current fiscal year.

Insider Transactions at AMC Networks

In related news, CAO Michael Sherin, III sold 10,648 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.35, for a total transaction of $131,502.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMC Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of AMC Networks by 32.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,368,515 shares of the company’s stock valued at $26,575,000 after buying an additional 577,506 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in AMC Networks during the first quarter worth approximately $1,060,000. Empowered Funds LLC boosted its position in AMC Networks by 69.3% during the third quarter. Empowered Funds LLC now owns 331,575 shares of the company’s stock worth $3,866,000 after acquiring an additional 135,758 shares during the last quarter. Ritholtz Wealth Management boosted its position in AMC Networks by 34.4% during the third quarter. Ritholtz Wealth Management now owns 201,236 shares of the company’s stock worth $2,346,000 after acquiring an additional 51,504 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in AMC Networks by 69.6% in the 1st quarter. Principal Financial Group Inc. now owns 80,732 shares of the company’s stock worth $548,000 after acquiring an additional 33,127 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

AMC Networks is a global entertainment company that develops, produces and distributes television and streaming content. Its programming includes original drama, unscripted series, films and other entertainment across a portfolio of cable networks and digital services. The company’s brands include AMC, BBC America, IFC, SundanceTV and WE tv, as well as streaming services such as AMC+, Acorn TV, Shudder, Sundance Now and ALLBLK. AMC Networks also distributes content through licensing and other partnerships.