AMC Networks (NASDAQ:AMCX) Given New $11.00 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCXFree Report) had its target price reduced by Morgan Stanley from $12.00 to $11.00 in a report issued on Monday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on the stock. Seaport Res Ptn cut shares of AMC Networks from a buy rating to a neutral rating in a research report on Tuesday, December 12th. StockNews.com raised AMC Networks from a hold rating to a buy rating in a research report on Friday. TheStreet lowered AMC Networks from a c- rating to a d rating in a research report on Wednesday, November 1st. Finally, The Goldman Sachs Group cut their price objective on AMC Networks from $20.00 to $14.00 and set a neutral rating for the company in a report on Friday, October 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, AMC Networks presently has an average rating of Hold and a consensus target price of $11.75.

Check Out Our Latest Research Report on AMC Networks

AMC Networks Stock Up 2.1 %

NASDAQ:AMCX opened at $14.71 on Monday. The stock has a 50-day simple moving average of $18.15 and a 200 day simple moving average of $14.55. AMC Networks has a 52-week low of $9.96 and a 52-week high of $27.46. The company has a market cap of $640.77 million, a PE ratio of 3.00 and a beta of 1.29. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.46 and a current ratio of 1.46.

AMC Networks (NASDAQ:AMCXGet Free Report) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $678.80 million during the quarter, compared to analysts’ expectations of $675.97 million. AMC Networks had a net margin of 7.95% and a return on equity of 30.74%. The business’s quarterly revenue was down 29.6% on a year-over-year basis. During the same period last year, the business earned $2.52 EPS. On average, sell-side analysts expect that AMC Networks will post 6.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kimberly Kelleher sold 13,192 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $15.28, for a total value of $201,573.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AMC Networks news, insider Kimberly Kelleher sold 13,192 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $15.28, for a total value of $201,573.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Gallagher sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $20.40, for a total transaction of $448,800.00. Following the sale, the executive vice president now owns 6,867 shares of the company’s stock, valued at approximately $140,086.80. The disclosure for this sale can be found here. Insiders have sold a total of 85,192 shares of company stock valued at $1,604,874 over the last 90 days. 27.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its holdings in AMC Networks by 88,362.5% during the 4th quarter. TFO Wealth Partners LLC now owns 14,154 shares of the company’s stock worth $266,000 after purchasing an additional 14,138 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of AMC Networks during the fourth quarter worth $571,000. US Bancorp DE lifted its holdings in shares of AMC Networks by 40.4% during the fourth quarter. US Bancorp DE now owns 4,518 shares of the company’s stock worth $85,000 after buying an additional 1,300 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of AMC Networks in the fourth quarter valued at about $248,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of AMC Networks by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,700 shares of the company’s stock valued at $18,954,000 after acquiring an additional 44,039 shares in the last quarter. Institutional investors own 59.77% of the company’s stock.

AMC Networks Company Profile

(Get Free Report)

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

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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