Wells Fargo & Company Lowers AMC Networks (NASDAQ:AMCX) Price Target to $4.00

AMC Networks (NASDAQ:AMCX) had its price target decreased by Wells Fargo & Company from $8.00 to $4.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other analysts also recently issued reports on AMCX. UBS Group dropped their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Morgan Stanley dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, February 20th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.50.

AMC Networks Stock Performance

AMCX stock opened at $6.10 on Thursday. The stock has a market capitalization of $269.23 million, a PE ratio of -1.16 and a beta of 1.28. The stock’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $8.36. AMC Networks has a 12-month low of $5.41 and a 12-month high of $18.58. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts forecast that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at AMC Networks

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total transaction of $1,072,697.75. Following the transaction, the insider now directly owns 20,833 shares in the company, valued at approximately $144,789.35. The trade was a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. RWWM Inc. increased its holdings in AMC Networks by 74.3% in the 1st quarter. RWWM Inc. now owns 2,712,921 shares of the company’s stock worth $18,665,000 after acquiring an additional 1,156,267 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of AMC Networks by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,715,833 shares of the company’s stock worth $16,987,000 after purchasing an additional 39,581 shares during the period. JPMorgan Chase & Co. increased its stake in shares of AMC Networks by 333.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock worth $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of AMC Networks by 22.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock valued at $14,505,000 after buying an additional 267,044 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in AMC Networks by 3.4% in the 4th quarter. American Century Companies Inc. now owns 824,096 shares of the company’s stock worth $8,159,000 after buying an additional 27,273 shares during the period. Institutional investors own 78.51% of the company’s stock.

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.