Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Price Target at $8.00

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) has been given an average recommendation of "Reduce" by the four analysts that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.00.

Several analysts have recently issued reports on AMCX shares. Morgan Stanley reduced their target price on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of AMC Networks from $9.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com cut shares of AMC Networks from a "buy" rating to a "hold" rating in a research report on Monday, February 17th.

AMC Networks Stock Down 1.9 %

NASDAQ AMCX traded down $0.13 during trading hours on Wednesday, hitting $6.84. The company's stock had a trading volume of 511,563 shares, compared to its average volume of 995,120. The company has a market capitalization of $301.89 million, a PE ratio of -1.30 and a beta of 1.33. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. AMC Networks has a 52 week low of $6.59 and a 52 week high of $18.58. The company's 50-day simple moving average is $8.22 and its two-hundred day simple moving average is $8.62.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company had revenue of $599.30 million for the quarter, compared to analysts' expectations of $611.26 million. During the same period in the previous year, the firm earned $0.72 EPS. The firm's quarterly revenue was down 11.7% on a year-over-year basis. Research analysts anticipate that AMC Networks will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now owns 20,833 shares in the company, valued at approximately $144,789.35. This represents a 88.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.87% of the stock is owned by insiders.

Institutional Trading of AMC Networks

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after acquiring an additional 1,248,571 shares during the period. Contrarius Group Holdings Ltd bought a new position in AMC Networks during the fourth quarter worth about $5,359,000. Janus Henderson Group PLC increased its stake in shares of AMC Networks by 2,483.1% in the fourth quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after purchasing an additional 297,124 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of AMC Networks by 22.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company's stock valued at $14,505,000 after purchasing an additional 267,044 shares during the period. Finally, RWWM Inc. raised its position in shares of AMC Networks by 20.6% in the fourth quarter. RWWM Inc. now owns 1,556,654 shares of the company's stock valued at $15,411,000 after purchasing an additional 266,322 shares during the period. 78.51% of the stock is currently owned by 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.