Royal Bank of Canada started coverage on shares of AMC Networks (NASDAQ:AMCX) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $57.00 price target on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 12.25% from the company’s previous close.
A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of AMC Networks from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Zacks Investment Research lowered shares of AMC Networks from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. TheStreet lowered shares of AMC Networks from a “b-” rating to a “c+” rating in a research note on Thursday, January 18th. BidaskClub upgraded shares of AMC Networks from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 23rd. Finally, Moffett Nathanson upgraded shares of AMC Networks from a “sell” rating to a “neutral” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. AMC Networks currently has a consensus rating of “Hold” and an average price target of $59.55.
Shares of AMC Networks (AMCX) traded down $0.41 during midday trading on Wednesday, reaching $50.78. 467,273 shares of the company were exchanged, compared to its average volume of 716,860. AMC Networks has a one year low of $46.89 and a one year high of $67.44. The stock has a market cap of $3,124.80, a PE ratio of 7.05, a P/E/G ratio of 0.87 and a beta of 0.84. The company has a debt-to-equity ratio of 19.07, a quick ratio of 2.53 and a current ratio of 2.53.
Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AMC Networks by 46.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the company’s stock worth $172,000 after acquiring an additional 1,008 shares during the period. Clark Capital Management Group Inc. grew its stake in shares of AMC Networks by 8.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 15,264 shares of the company’s stock worth $825,000 after acquiring an additional 1,129 shares during the period. ING Groep NV grew its stake in shares of AMC Networks by 19.2% in the fourth quarter. ING Groep NV now owns 7,602 shares of the company’s stock worth $411,000 after acquiring an additional 1,224 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of AMC Networks by 71.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,686 shares of the company’s stock worth $200,000 after acquiring an additional 1,537 shares during the period. Finally, Alambic Investment Management L.P. grew its stake in shares of AMC Networks by 8.6% in the fourth quarter. Alambic Investment Management L.P. now owns 22,200 shares of the company’s stock worth $1,201,000 after acquiring an additional 1,760 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.
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About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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