AMC Networks (NASDAQ:AMCX) Given New $6.00 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCX - Free Report) had its target price cut by Morgan Stanley from $8.00 to $6.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped 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 Tuesday, February 18th. Wells Fargo & Company dropped their price target on AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. UBS Group cut their target price on shares of AMC Networks from $8.00 to $6.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Finally, StockNews.com cut shares of AMC Networks from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.00.

AMC Networks Stock Performance

NASDAQ:AMCX traded up $0.14 during mid-day trading on Tuesday, hitting $6.33. 1,115,506 shares of the company traded hands, compared to its average volume of 997,097. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. The stock's fifty day moving average price is $6.53 and its 200-day moving average price is $8.19. The firm has a market cap of $279.38 million, a price-to-earnings ratio of -1.21 and a beta of 1.43. AMC Networks has a one year low of $5.41 and a one year high of $18.58.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $555.23 million during the quarter, compared to analysts' expectations of $567.23 million. During the same period in the prior year, the company posted $1.16 earnings per share. The company's revenue was down 6.9% compared to the same quarter last year. Research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now owns 20,833 shares of the company's stock, valued at $144,789.35. This represents a 88.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.62% of the stock is owned by corporate insiders.

Institutional Trading of AMC Networks

Several institutional investors and hedge funds have recently made changes to their positions in AMCX. Charles Schwab Investment Management Inc. lifted its holdings in shares of AMC Networks by 17.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company's stock worth $4,702,000 after buying an additional 100,158 shares during the period. US Bancorp DE boosted its position in shares of AMC Networks by 3,351.9% in the 1st quarter. US Bancorp DE now owns 10,045 shares of the company's stock worth $69,000 after purchasing an additional 9,754 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of AMC Networks during the first quarter valued at about $103,000. Readystate Asset Management LP increased its position in shares of AMC Networks by 352.5% in the 1st quarter. Readystate Asset Management LP now owns 405,383 shares of the company's stock valued at $2,789,000 after acquiring an additional 315,787 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of AMC Networks by 570.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company's stock worth $625,000 after purchasing an additional 77,350 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors.

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.