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

StockNews.com lowered shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research report released on Tuesday morning.

AMC Networks Trading Up 2.4 %

Shares of AMC Networks stock opened at $9.63 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a 50-day moving average of $13.69 and a 200-day moving average of $14.39. AMC Networks has a 52-week low of $8.84 and a 52-week high of $20.97. The stock has a market cap of $419.48 million, a PE ratio of 2.70 and a beta of 1.30.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data 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). AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The business had revenue of $596.50 million during the quarter, compared to analyst estimates of $601.74 million. During the same quarter last year, the firm earned $2.62 EPS. AMC Networks’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AMC Networks will post 4.93 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kimberly Kelleher sold 10,941 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total transaction of $188,404.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Patrick O’connell sold 6,459 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $16.32, for a total transaction of $105,410.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kimberly Kelleher sold 10,941 shares of AMC Networks 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 disclosure for this sale can be found here. Insiders have sold a total of 55,348 shares of company stock worth $888,957 in the last 90 days. Company insiders own 25.87% of the company’s stock.

Institutional Investors Weigh In On AMC Networks

A number of large investors have recently modified their holdings of AMCX. PNC Financial Services Group Inc. boosted its stake in AMC Networks by 70.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,887 shares of the company’s stock valued at $81,000 after buying an additional 2,849 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of AMC Networks by 6.2% in the third quarter. Invesco Ltd. now owns 528,954 shares of the company’s stock worth $6,231,000 after acquiring an additional 30,646 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of AMC Networks by 101.1% during the 3rd quarter. Trexquant Investment LP now owns 84,417 shares of the company’s stock valued at $994,000 after purchasing an additional 42,440 shares during the last quarter. RWWM Inc. acquired a new position in AMC Networks during the 3rd quarter worth approximately $2,068,000. Finally, Graham Capital Management L.P. increased its position in AMC Networks by 70.4% during the 3rd quarter. Graham Capital Management L.P. now owns 21,109 shares of the company’s stock worth $249,000 after purchasing an additional 8,720 shares in the last quarter. Institutional investors and hedge funds 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.