AMC Networks Inc. (NASDAQ:AMCX) Stock Rated "Strong Sell" by Sell-Side Analysts

Key Points

• AMC Networks received a “Strong Sell” consensus rating from five analysts: three sell ratings and two holds. The average one-year price target is $10.33, below the reported share price of $11.66.
• The company’s latest quarterly results fell short of expectations, with an adjusted loss of $0.28 per share versus the $0.12 loss analysts expected, while revenue declined 8.8% year over year to $547.5 million.
• Institutional investors own 78.51% of AMC Networks, while an insider sold 10,648 shares for approximately $131,503. The stock was up 1.0% and trading near its 52-week high of $12.93.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) has received an average rating of "Strong Sell" from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.33.

AMCX has been the topic of a number of research reports. Weiss Ratings cut AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Wells Fargo & Company increased their price target on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Zacks Research downgraded shares of AMC Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 10th. Morgan Stanley upped their price objective on shares of AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Friday, July 31st. Finally, UBS Group increased their target price on shares of AMC Networks from $6.00 to $10.00 and gave the company a "sell" rating in a report on Wednesday, August 12th.

Insider Transactions at AMC Networks

In other AMC Networks news, CAO Michael Sherin, III sold 10,648 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.35, for a total transaction of $131,502.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company's stock worth $9,423,000 after acquiring an additional 349,373 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in AMC Networks in the 1st quarter worth approximately $1,060,000. Verus Capital Partners LLC lifted its position in AMC Networks by 7.4% in the fourth quarter. Verus Capital Partners LLC now owns 80,300 shares of the company's stock valued at $764,000 after purchasing an additional 5,500 shares during the last quarter. AXQ Capital LP bought a new stake in AMC Networks in the fourth quarter valued at approximately $118,000. Finally, WINTON GROUP Ltd boosted its stake in shares of AMC Networks by 213.0% during the fourth quarter. WINTON GROUP Ltd now owns 56,925 shares of the company's stock valued at $542,000 after purchasing an additional 38,739 shares during the period. Institutional investors own 78.51% of the company's stock.

AMC Networks Stock Up 1.0%

Shares of NASDAQ:AMCX opened at $11.66 on Thursday. The firm has a market capitalization of $480.98 million, a PE ratio of -14.22 and a beta of 1.35. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76. AMC Networks has a 52-week low of $6.47 and a 52-week high of $12.93. The firm has a fifty day moving average of $11.83 and a 200 day moving average of $9.88.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm had revenue of $547.50 million for the quarter, compared to analysts' expectations of $555.74 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company's revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts anticipate that AMC Networks will post 2.41 EPS for the current fiscal year.

AMC Networks Company Profile

AMC Networks Inc NASDAQ: AMCX is an entertainment company that develops, produces, and distributes television and streaming content. Its portfolio includes the AMC, BBC America, IFC, SundanceTV, and WE tv networks, which feature scripted and unscripted series, films, documentaries, and other original programming.

The company also operates a range of direct-to-consumer streaming services, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. These platforms offer original series, movies, genre-focused programming, and content from AMC Networks' television brands and production businesses.

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