Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Target Price at $7.00

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus rating of “Strong Sell” from the six analysts that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.00.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Zacks Research upgraded AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Seaport Research Partners downgraded AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Morgan Stanley raised their price target on AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, January 21st.

AMC Networks Stock Performance

Shares of AMCX opened at $6.96 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.67 and a current ratio of 1.67. The company has a market capitalization of $297.26 million, a price-to-earnings ratio of 5.08 and a beta of 1.06. The company’s 50 day simple moving average is $7.91 and its 200 day simple moving average is $8.20. AMC Networks has a 1 year low of $5.41 and a 1 year high of $10.27.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The firm had revenue of $594.80 million during the quarter, compared to analysts’ expectations of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. AMC Networks’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. On average, sell-side analysts predict that AMC Networks will post 2.62 EPS for the current year.

Insider Activity

In related news, CAO Michael J. Sherin III sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the completion of the sale, the chief accounting officer directly owned 10,648 shares in the company, valued at approximately $84,758.08. The trade was a 35.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 25.87% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

A number of large investors have recently bought and sold shares of AMCX. CWM LLC grew its stake in shares of AMC Networks by 13.8% during the 4th quarter. CWM LLC now owns 11,858 shares of the company’s stock valued at $113,000 after buying an additional 1,437 shares during the period. Cerity Partners LLC raised its position in shares of AMC Networks by 14.1% in the 4th quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock worth $113,000 after buying an additional 1,473 shares during the period. Federated Hermes Inc. raised its position in shares of AMC Networks by 6.8% in the 4th quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock worth $252,000 after buying an additional 1,680 shares during the period. Man Group plc boosted its holdings in AMC Networks by 6.7% in the second quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after acquiring an additional 1,735 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in AMC Networks by 18.2% in the third quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after acquiring an additional 1,840 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.