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

AMC Networks (NASDAQ:AMCX) had its target price cut by UBS Group from $8.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. UBS Group’s price objective suggests a potential downside of 1.88% from the company’s previous close.

Several other equities research analysts have also commented on the company. Morgan Stanley dropped their price target on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced 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. Finally, StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AMC Networks has an average rating of “Hold” and an average target price of $7.50.

AMC Networks Trading Down 2.2 %

AMCX traded down $0.14 during midday trading on Tuesday, hitting $6.12. The company’s stock had a trading volume of 88,448 shares, compared to its average volume of 574,623. AMC Networks has a 52-week low of $5.41 and a 52-week high of $18.58. The firm has a 50-day moving average price of $7.32 and a two-hundred day moving average price of $8.43. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The firm has a market cap of $269.89 million, a P/E ratio of -1.16 and a beta of 1.28.

AMC Networks (NASDAQ:AMCX) last released its earnings results 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). The company had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current year.

Insider Transactions at AMC Networks

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the completion of the transaction, the insider now owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. This represents a 88.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 25.87% of the company’s stock.

Hedge Funds Weigh In On AMC Networks

Several institutional investors and hedge funds have recently made changes to their positions in AMCX. Russell Investments Group Ltd. raised its holdings in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after acquiring an additional 1,097 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of AMC Networks by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after purchasing an additional 3,732 shares in the last quarter. R Squared Ltd bought a new position in shares of AMC Networks during the fourth quarter worth about $59,000. Federated Hermes Inc. grew its stake in AMC Networks by 31.3% in the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after purchasing an additional 1,918 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in AMC Networks in the third quarter valued at about $88,000. 78.51% of the stock is currently owned by hedge funds and other 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.