StockNews.com Initiates Coverage on AMC Networks (NASDAQ:AMCX)

Equities researchers at StockNews.com started coverage on shares of AMC Networks (NASDAQ:AMCX – Get Rating) in a research report issued on Thursday. The firm set a “buy” rating on the stock.

AMCX has been the subject of a number of other reports. Morgan Stanley increased their price target on AMC Networks from $19.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 21st. TheStreet raised AMC Networks from a “d+” rating to a “c-” rating in a research report on Wednesday, March 1st. Finally, Wells Fargo & Company raised their target price on AMC Networks from $10.00 to $15.00 and gave the company an “underweight” rating in a research report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, AMC Networks presently has an average rating of “Hold” and a consensus price target of $25.71.

AMC Networks Price Performance

AMC Networks stock opened at $16.00 on Thursday. The stock has a market capitalization of $688.16 million, a price-to-earnings ratio of 133.34 and a beta of 1.21. AMC Networks has a 52-week low of $14.45 and a 52-week high of $43.74. The stock’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $20.15. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.67 and a current ratio of 1.67.

AMC Networks (NASDAQ:AMCX – Get Rating) last released its quarterly earnings results on Friday, February 17th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $1.29. The business had revenue of $964.50 million during the quarter, compared to analyst estimates of $937.07 million. AMC Networks had a return on equity of 41.38% and a net margin of 0.25%. AMC Networks’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. On average, equities analysts predict that AMC Networks will post 6.91 earnings per share for the current year.

Insider Transactions at AMC Networks

In other news, EVP James Gallagher sold 20,000 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $23.15, for a total transaction of $463,000.00. Following the completion of the transaction, the executive vice president now owns 28,867 shares in the company, valued at approximately $668,271.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ronald Blue Trust Inc. grew its stake in shares of AMC Networks by 412.5% during the 3rd quarter. Ronald Blue Trust Inc. now owns 902 shares of the company’s stock worth $26,000 after acquiring an additional 726 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of AMC Networks in the 3rd quarter valued at about $28,000. Quadrant Capital Group LLC raised its holdings in shares of AMC Networks by 209.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,799 shares of the company’s stock valued at $28,000 after acquiring an additional 1,218 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of AMC Networks by 315.9% in the 4th quarter. Dark Forest Capital Management LP now owns 1,913 shares of the company’s stock valued at $30,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of AMC Networks by 2,007.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,171 shares of the company’s stock valued at $34,000 after acquiring an additional 2,068 shares in the last quarter. Institutional investors own 63.13% of the company’s stock.

AMC Networks Company Profile

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AMC Networks, Inc is a holding company, which engages in the owning and management of cable television networks through its subsidiaries. It operates through the Domestic Operations, and International and Other segments. The Domestic Operations segment includes programming services and AMC Broadcasting and Technology.