AMC Networks (AMCX) Stock Rating Lowered by Macquarie
AMC Networks (NASDAQ:AMCX) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday. They presently have a $60.00 target price on the stock. Macquarie’s price objective would suggest a potential upside of 16.05% from the stock’s current price.
Several other equities research analysts also recently issued reports on AMCX. TheStreet raised AMC Networks from a “c” rating to a “b-” rating in a report on Thursday, December 21st. BidaskClub raised AMC Networks from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 19th. ValuEngine upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Jefferies Group decreased their price target on AMC Networks from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Finally, Loop Capital decreased their price target on AMC Networks from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $61.42.
AMC Networks (AMCX) opened at $51.70 on Tuesday. The stock has a market cap of $3,348.64, a PE ratio of 7.78, a P/E/G ratio of 1.02 and a beta of 1.10. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53. AMC Networks has a 52-week low of $46.89 and a 52-week high of $67.61.
A number of institutional investors have recently made changes to their positions in AMCX. Investec Asset Management LTD grew its stake in AMC Networks by 45.0% in the 3rd quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock valued at $105,209,000 after purchasing an additional 558,579 shares during the period. AJO LP grew its stake in AMC Networks by 121.4% in the 2nd quarter. AJO LP now owns 996,174 shares of the company’s stock valued at $53,206,000 after purchasing an additional 546,211 shares during the period. LSV Asset Management grew its stake in AMC Networks by 284.0% in the 2nd quarter. LSV Asset Management now owns 721,131 shares of the company’s stock valued at $38,515,000 after purchasing an additional 533,360 shares during the period. American Century Companies Inc. bought a new position in AMC Networks in the 3rd quarter valued at $20,212,000. Finally, JPMorgan Chase & Co. lifted its position in shares of AMC Networks by 206.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 505,435 shares of the company’s stock valued at $26,996,000 after buying an additional 340,632 shares during the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.
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About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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