UBS Group Cuts AMC Networks (NASDAQ:AMCX) Price Target to $6.00

AMC Networks (NASDAQ:AMCX - Get Free Report) had its price objective reduced by equities researchers at UBS Group from $8.00 to $6.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a "sell" rating on the stock. UBS Group's price objective would suggest a potential downside of 1.64% from the stock's current price.

AMCX has been the subject of several other research reports. StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Morgan Stanley reduced their target price on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 18th. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.50.

AMC Networks Stock Up 2.0 %

Shares of AMCX traded up $0.12 during trading hours on Tuesday, reaching $6.10. The stock had a trading volume of 300,499 shares, compared to its average volume of 1,004,388. The company has a market capitalization of $269.23 million, a price-to-earnings ratio of -1.16 and a beta of 1.28. The firm has a 50-day simple moving average of $7.03 and a 200 day simple moving average of $8.36. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks has a 12 month low of $5.41 and a 12 month high of $18.58.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm's quarterly revenue was down 11.7% compared to the same quarter last year. Equities research analysts predict 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 the firm's 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 sale, the insider now owns 20,833 shares in the company, valued at $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 is available at this hyperlink. 25.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMC Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after acquiring an additional 1,248,571 shares during the period. RWWM Inc. increased its stake in shares of AMC Networks by 74.3% in the first quarter. RWWM Inc. now owns 2,712,921 shares of the company's stock worth $18,665,000 after purchasing an additional 1,156,267 shares in the last quarter. Contrarius Group Holdings Ltd bought a new stake in shares of AMC Networks in the fourth quarter valued at approximately $5,359,000. Janus Henderson Group PLC boosted its holdings in AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after buying an additional 297,124 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in AMC Networks by 22.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock valued at $14,505,000 after buying an additional 267,044 shares in the last quarter. 78.51% of the stock is 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.