AMC Networks (NASDAQ:AMCX) Price Target Cut to $6.00 by Analysts at UBS Group

AMC Networks (NASDAQ:AMCX) had its price target cut by investment analysts at UBS Group from $8.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the stock. UBS Group’s target price indicates a potential downside of 1.88% from the stock’s current price.

A number of other research firms have also recently weighed in on AMCX. JPMorgan Chase & Co. cut their price target on 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 downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Finally, Morgan Stanley decreased their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.50.

AMC Networks Stock Performance

NASDAQ:AMCX traded down $0.14 during midday trading on Tuesday, reaching $6.12. 88,448 shares of the company traded hands, compared to its average volume of 574,623. The firm has a market capitalization of $269.89 million, a price-to-earnings ratio of -1.16 and a beta of 1.28. The company has a fifty day moving average price of $7.32 and a 200 day moving average price of $8.43. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. AMC Networks has a twelve month low of $5.41 and a twelve month high of $18.58.

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 the consensus estimate 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 firm had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. During the same period last year, the firm posted $0.72 EPS. The business’s revenue was down 11.7% compared to the same quarter last year. On average, analysts expect that AMC Networks will post 2.62 EPS for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.95, for a total transaction 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 trade represents a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 25.87% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in AMC Networks by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock worth $229,000 after purchasing an additional 2,043 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of AMC Networks during the fourth quarter valued at approximately $414,000. Contrarius Group Holdings Ltd acquired a new position in AMC Networks in the 4th quarter worth approximately $5,359,000. JPMorgan Chase & Co. grew its position in AMC Networks by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after purchasing an additional 158,162 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of AMC Networks in the fourth quarter valued at $134,000. 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.