AMC Networks (NASDAQ:AMCX) Rating Lowered to Hold at StockNews.com

AMC Networks (NASDAQ:AMCX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Tuesday, November 12th. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd.

AMC Networks Price Performance

NASDAQ AMCX traded down $1.05 on Monday, reaching $8.79. 1,308,338 shares of the stock traded hands, compared to its average volume of 375,841. AMC Networks has a 12 month low of $7.08 and a 12 month high of $18.58. The company has a market cap of $387.82 million, a price-to-earnings ratio of 13.95 and a beta of 1.31. The firm’s fifty day simple moving average is $9.49 and its 200 day simple moving average is $9.14. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The firm had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same period in the prior year, the business earned $0.72 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, research analysts predict that AMC Networks will post 4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in shares of AMC Networks by 6.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock valued at $302,000 after buying an additional 2,150 shares in the last quarter. nVerses Capital LLC bought a new stake in AMC Networks in the third quarter worth approximately $55,000. Allspring Global Investments Holdings LLC increased its stake in shares of AMC Networks by 20.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock worth $2,926,000 after purchasing an additional 57,952 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of AMC Networks during the 3rd quarter worth $165,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of AMC Networks by 130.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,814 shares of the company’s stock valued at $216,000 after purchasing an additional 14,038 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

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.