AMC Networks (NASDAQ:AMCX) Price Target Lowered to $6.00 at Morgan Stanley

AMC Networks (NASDAQ:AMCX - Get Free Report) had its price target lowered by investment analysts at Morgan Stanley from $8.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Morgan Stanley's target price suggests a potential downside of 4.46% from the stock's current price.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company decreased their price target on AMC Networks from $8.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. JPMorgan Chase & Co. cut their price objective 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. Finally, UBS Group reduced their target price on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $6.00.

AMC Networks Stock Performance

Shares of AMCX stock traded up $0.02 during trading hours on Tuesday, hitting $6.28. The stock had a trading volume of 46,298 shares, compared to its average volume of 993,162. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market capitalization of $277.17 million, a PE ratio of -1.20 and a beta of 1.43. AMC Networks has a twelve month low of $5.41 and a twelve month high of $18.58. The stock's 50 day moving average is $6.59 and its 200 day moving average is $8.23.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.64 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 company had revenue of $599.30 million for the quarter, compared to analysts' expectations of $611.26 million. During the same period in the prior year, the company earned $0.72 earnings per share. The firm's revenue was down 11.7% on a year-over-year basis. 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 other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the 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 completion of the transaction, the insider now directly owns 20,833 shares of the company's stock, valued at approximately $144,789.35. This trade represents a 88.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.87% of the stock is currently owned by company insiders.

Institutional Trading of AMC Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMCX. Barclays PLC grew its stake in AMC Networks by 8.5% during the 3rd quarter. Barclays PLC now owns 554,837 shares of the company's stock valued at $4,821,000 after acquiring an additional 43,623 shares in the last quarter. Virtu Financial LLC grew its position in AMC Networks by 45.4% during the third quarter. Virtu Financial LLC now owns 29,783 shares of the company's stock valued at $259,000 after purchasing an additional 9,304 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AMC Networks by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company's stock valued at $3,252,000 after buying an additional 158,162 shares during the period. Range Financial Group LLC purchased a new stake in AMC Networks in the 4th quarter worth approximately $172,000. Finally, Linden Thomas Advisory Services LLC boosted its stake in shares of AMC Networks by 16.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 49,278 shares of the company's stock valued at $488,000 after buying an additional 6,914 shares during the period. 78.51% of the stock is 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.

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