Morgan Stanley Lowers AMC Networks (NASDAQ:AMCX) Price Target to $5.50

AMC Networks (NASDAQ:AMCX - Get Free Report) had its target price dropped by equities research analysts at Morgan Stanley from $6.00 to $5.50 in a research note issued on Monday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Morgan Stanley's target price would suggest a potential downside of 6.86% from the stock's previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their price objective on AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, February 18th. UBS Group reduced their price objective on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Finally, StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.88.

AMC Networks Stock Down 6.7%

NASDAQ AMCX traded down $0.43 on Monday, reaching $5.91. The company had a trading volume of 108,387 shares, compared to its average volume of 993,746. 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 has a market capitalization of $260.62 million, a P/E ratio of -1.12 and a beta of 1.43. The company's fifty day moving average is $6.53 and its 200 day moving average is $8.19. AMC Networks has a 52-week low of $5.41 and a 52-week 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 analysts' consensus estimates of $0.73 by ($0.21). The firm had revenue of $555.23 million during the quarter, compared to analysts' expectations of $567.23 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business's quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. Sell-side analysts anticipate that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of AMC Networks stock in a transaction that occurred on Monday, March 10th. The shares were 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 in the company, valued at approximately $144,789.35. This trade represents a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.62% of the stock is owned by insiders.

Hedge Funds Weigh In On AMC Networks

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of AMC Networks by 17.2% in the first 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 in the last quarter. US Bancorp DE raised its stake in shares of AMC Networks by 3,351.9% in the first quarter. US Bancorp DE now owns 10,045 shares of the company's stock worth $69,000 after purchasing an additional 9,754 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of AMC Networks during the first quarter valued at $103,000. Readystate Asset Management LP increased its holdings in AMC Networks by 352.5% in the 1st quarter. Readystate Asset Management LP now owns 405,383 shares of the company's stock worth $2,789,000 after buying an additional 315,787 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in 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. Institutional investors own 78.51% of the company's stock.

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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