AMC Networks (NASDAQ:AMCX) Given New $8.00 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCX - Get Free Report) had its price objective reduced by equities researchers at Morgan Stanley from $9.00 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 3.76% from the company's current price.

AMCX has been the subject of a number of other reports. 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 report on Tuesday. StockNews.com cut shares of AMC Networks from a "buy" rating to a "hold" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.00.

AMC Networks Trading Down 3.9 %

Shares of NASDAQ:AMCX traded down $0.31 during trading on Thursday, reaching $7.71. The stock had a trading volume of 522,493 shares, compared to its average volume of 476,038. The firm's fifty day moving average is $9.37 and its 200 day moving average is $9.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.32 and a current ratio of 2.38. AMC Networks has a 52 week low of $7.08 and a 52 week high of $18.58. The stock has a market cap of $340.17 million, a price-to-earnings ratio of -1.47 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.41). The firm had revenue of $599.30 million during the quarter, compared to the consensus estimate of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company's revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, equities analysts forecast that AMC Networks will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMCX. Russell Investments Group Ltd. lifted its position in shares of AMC Networks by 45.7% during the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company's stock valued at $35,000 after purchasing an additional 1,097 shares in the last quarter. R Squared Ltd bought a new position in shares of AMC Networks during the fourth quarter valued at about $59,000. Federated Hermes Inc. lifted its position in shares of AMC Networks by 31.3% during the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company's stock valued at $80,000 after purchasing an additional 1,918 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of AMC Networks during the third quarter valued at about $88,000. Finally, FORA Capital LLC bought a new stake in AMC Networks in the third quarter worth about $89,000. 78.51% of the stock is 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.