AMC Networks Inc. (NASDAQ:AMCX) Given Consensus Recommendation of “Strong Sell” by Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has been given a consensus rating of “Strong Sell” by the five research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.75.

Separately, StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, CAO Michael J. Sherin III sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the completion of the sale, the chief accounting officer now directly owns 4,948 shares in the company, valued at $77,238.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AMC Networks news, CAO Michael J. Sherin III sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the completion of the sale, the chief accounting officer now directly owns 4,948 shares in the company, valued at $77,238.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Patrick O’connell sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $16.02, for a total transaction of $80,100.00. Following the completion of the transaction, the chief financial officer now directly owns 6,459 shares of the company’s stock, valued at approximately $103,473.18. The disclosure for this sale can be found here. Insiders sold a total of 55,348 shares of company stock worth $888,957 over the last three months. Corporate insiders own 25.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AMCX. Vanguard Group Inc. raised its holdings in shares of AMC Networks by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock worth $41,145,000 after buying an additional 30,721 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of AMC Networks by 20.2% in the third quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock worth $52,000 after buying an additional 737 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of AMC Networks by 5.8% during the fourth quarter. SG Americas Securities LLC now owns 16,030 shares of the company’s stock worth $301,000 after purchasing an additional 882 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AMC Networks by 152.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock worth $750,000 after purchasing an additional 24,085 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of AMC Networks by 98.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock worth $81,000 after purchasing an additional 2,146 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Price Performance

NASDAQ AMCX opened at $10.33 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.85 and a current ratio of 1.85. The firm’s 50 day moving average price is $12.86 and its 200-day moving average price is $13.49. AMC Networks has a 52-week low of $8.84 and a 52-week high of $20.97. The company has a market cap of $449.97 million, a PE ratio of 2.89 and a beta of 1.30.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, May 10th. The company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). AMC Networks had a net margin of 6.09% and a return on equity of 23.57%. The business had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.74 million. During the same quarter in the prior year, the business posted $2.62 earnings per share. AMC Networks’s revenue for the quarter was down 16.9% on a year-over-year basis. Sell-side analysts forecast that AMC Networks will post 4.93 EPS for the current fiscal year.

AMC Networks Company Profile

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.