AMC Networks (NASDAQ:AMCX) Given New $5.50 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCX) had its price target lowered by Morgan Stanley from $6.00 to $5.50 in a report published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research analysts have also weighed in on AMCX. UBS Group reduced their price target on AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a research note on Tuesday, April 15th. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company cut their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th. Four analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.38.

AMC Networks Trading Up 2.0%

Shares of AMC Networks stock opened at $6.14 on Monday. AMC Networks has a fifty-two week low of $5.41 and a fifty-two week high of $18.58. The firm has a market cap of $271.00 million, a PE ratio of -1.17 and a beta of 1.43. The business’s fifty day moving average is $6.47 and its two-hundred day moving average is $8.15. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $555.23 million for the quarter, compared to analysts’ expectations of $567.23 million. During the same period in the prior year, the company earned $1.16 EPS. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. Analysts anticipate that AMC Networks will post 2.62 earnings per share for the current year.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the sale, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. This represents a 88.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in AMC Networks in the 1st quarter valued at $31,000. Russell Investments Group Ltd. increased its holdings in AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares in the last quarter. GAMMA Investing LLC increased its holdings in AMC Networks by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after purchasing an additional 3,732 shares in the last quarter. R Squared Ltd acquired a new stake in AMC Networks in the 4th quarter valued at $59,000. Finally, US Bancorp DE increased its holdings in AMC Networks by 3,351.9% in the 1st quarter. US Bancorp DE now owns 10,045 shares of the company’s stock valued at $69,000 after purchasing an additional 9,754 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.