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

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research report report published on Monday morning.

AMC Networks Stock Down 4.4 %

Shares of NASDAQ AMCX opened at $9.18 on Monday. AMC Networks has a 52 week low of $8.84 and a 52 week high of $20.97. The stock’s fifty day moving average is $13.86 and its 200 day moving average is $14.70. 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 stock has a market capitalization of $399.88 million, a P/E ratio of 2.57 and a beta of 1.36.

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

Insider Buying and Selling at AMC Networks

In other news, CAO Michael J. Sherin III sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.61, for a total transaction of $46,830.00. Following the completion of the transaction, the chief accounting officer now owns 4,948 shares of the company’s stock, valued at approximately $77,238.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James Gallagher sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total value of $388,500.00. Following the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at $25,780.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Michael J. Sherin III sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.61, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 55,348 shares of company stock valued at $888,957. 25.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in shares of AMC Networks in the fourth quarter worth approximately $33,000. Public Employees Retirement System of Ohio raised its holdings in AMC Networks by 20.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock worth $52,000 after purchasing an additional 737 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of AMC Networks in the 1st quarter worth approximately $60,000. PNC Financial Services Group Inc. lifted its position in shares of AMC Networks by 70.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,887 shares of the company’s stock worth $81,000 after purchasing an additional 2,849 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of AMC Networks by 98.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock valued at $81,000 after purchasing an additional 2,146 shares during the last quarter. 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.