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Stock Traders Purchase Large Volume of Amc Networks Put Options (NASDAQ:AMCX)

Last updated on Thursday, September 24, 2020 | 2020 MarketBeat

Amc Networks Inc (NASDAQ:AMCX) was the target of some unusual options trading on Wednesday. Stock investors acquired 11,922 put options on the company. This represents an increase of 1,311% compared to the average daily volume of 845 put options.

A number of equities research analysts have recently weighed in on AMCX shares. Macquarie upgraded Amc Networks from a "neutral" rating to an "outperform" rating and set a $29.00 price target for the company in a report on Friday, August 7th. Deutsche Bank lowered their price target on Amc Networks from $49.00 to $34.00 and set a "hold" rating for the company in a report on Wednesday, June 17th. Zacks Investment Research upgraded Amc Networks from a "sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Goldman Sachs Group initiated coverage on Amc Networks in a research note on Monday, July 13th. They set a "sell" rating and a $19.00 price objective for the company. Finally, ValuEngine lowered Amc Networks from a "sell" rating to a "strong sell" rating in a research report on Monday, August 3rd. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. The company currently has a consensus rating of "Hold" and a consensus price target of $32.54.

Shares of NASDAQ:AMCX opened at $23.80 on Thursday. The business has a 50 day moving average price of $23.93 and a 200 day moving average price of $25.24. Amc Networks has a twelve month low of $19.62 and a twelve month high of $49.94. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 3.11 and a beta of 0.89. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 4.16.

Amc Networks (NASDAQ:AMCX) last announced its earnings results on Tuesday, August 4th. The company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.16 by $1.23. Amc Networks had a return on equity of 65.61% and a net margin of 6.66%. The firm had revenue of $646.29 million during the quarter, compared to the consensus estimate of $623.83 million. During the same quarter in the prior year, the company earned $2.60 EPS. The firm's revenue for the quarter was down 16.3% compared to the same quarter last year. Analysts anticipate that Amc Networks will post 5.42 EPS for the current year.

A number of large investors have recently made changes to their positions in AMCX. Marshall Wace LLP bought a new stake in shares of Amc Networks in the 1st quarter worth approximately $128,000. FMR LLC raised its holdings in shares of Amc Networks by 5.8% in the 1st quarter. FMR LLC now owns 414,800 shares of the company's stock worth $23,544,000 after buying an additional 22,683 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Amc Networks by 0.6% in the 1st quarter. Rhumbline Advisers now owns 118,808 shares of the company's stock worth $2,888,000 after buying an additional 693 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Amc Networks by 273.3% in the 1st quarter. Russell Investments Group Ltd. now owns 36,955 shares of the company's stock worth $902,000 after buying an additional 27,056 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Amc Networks by 42.4% in the 1st quarter. First Trust Advisors LP now owns 52,707 shares of the company's stock worth $1,281,000 after buying an additional 15,691 shares in the last quarter. Hedge funds and other institutional investors own 86.11% of the company's stock.

About Amc Networks

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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