Zacks Research Downgrades AMC Networks (NASDAQ:AMCX) to Hold

AMC Networks (NASDAQ:AMCX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on AMCX. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, October 8th. Wells Fargo & Company reissued an “underweight” rating on shares of AMC Networks in a report on Sunday, August 10th. One research analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, AMC Networks currently has a consensus rating of “Strong Sell” and a consensus target price of $5.38.

AMC Networks Stock Up 3.7%

Shares of NASDAQ AMCX traded up $0.27 during midday trading on Wednesday, hitting $7.52. The stock had a trading volume of 581,879 shares, compared to its average volume of 536,805. The business’s 50 day moving average is $7.74 and its 200-day moving average is $6.85. AMC Networks has a 52 week low of $5.41 and a 52 week high of $10.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 2.11. The company has a market cap of $326.25 million, a P/E ratio of -1.72 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 7th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.13). The business had revenue of $561.74 million for the quarter, compared to analysts’ expectations of $549.27 million. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. AMC Networks has set its FY 2025 guidance at EPS. As a group, analysts predict that AMC Networks will post 2.62 EPS for the current year.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in AMC Networks in the 2nd quarter worth $25,000. Nisa Investment Advisors LLC bought a new position in shares of AMC Networks in the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. grew its position in shares of AMC Networks by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after purchasing an additional 2,735 shares in the last quarter. Quantbot Technologies LP purchased a new position in AMC Networks in the 1st quarter worth approximately $31,000. Finally, CWM LLC lifted its holdings in AMC Networks by 50.4% in the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after purchasing an additional 1,909 shares in the last quarter. 78.51% of the stock is currently 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.