AMC Networks (NASDAQ:AMCX) Upgraded at StockNews.com

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research note issued to investors on Monday.

AMC Networks Stock Performance

AMC Networks stock opened at $9.60 on Monday. The firm’s 50 day simple moving average is $13.89 and its 200-day simple moving average is $14.74. The company has a market cap of $418.18 million, a P/E ratio of 2.69 and a beta of 1.36. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.85 and a quick ratio of 1.85. AMC Networks has a fifty-two week low of $9.23 and a fifty-two week high of $20.97.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, May 10th. The company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.63). The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business’s revenue was down 16.9% on a year-over-year basis. During the same period last year, the business earned $2.62 earnings per share. As a group, equities research analysts predict that AMC Networks will post 4.93 EPS for the current year.

Insider Activity at AMC Networks

In related news, CAO Michael J. Sherin III sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total transaction of $46,830.00. Following the transaction, the chief accounting officer now directly owns 4,948 shares of the company’s stock, valued at $77,238.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kimberly Kelleher sold 10,941 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $17.22, for a total transaction of $188,404.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michael J. Sherin III sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total transaction of $46,830.00. Following the transaction, the chief accounting officer now directly owns 4,948 shares in the company, valued at $77,238.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,348 shares of company stock valued at $888,957. Corporate insiders own 25.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in AMC Networks by 0.9% in the third quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock valued at $41,145,000 after acquiring an additional 30,721 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AMC Networks by 11.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,529,595 shares of the company’s stock valued at $28,741,000 after acquiring an additional 155,346 shares during the last quarter. Schroder Investment Management Group lifted its stake in AMC Networks by 2.0% in the fourth quarter. Schroder Investment Management Group now owns 1,010,729 shares of the company’s stock valued at $18,992,000 after acquiring an additional 19,794 shares during the last quarter. Invesco Ltd. lifted its stake in AMC Networks by 6.2% in the third quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock valued at $6,231,000 after acquiring an additional 30,646 shares during the last quarter. Finally, RWWM Inc. lifted its stake in AMC Networks by 193.7% in the fourth quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after acquiring an additional 339,912 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

About AMC Networks

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.