Other analysts also recently issued reports about the company. Piper Jaffray Companies downgraded AMC Networks from an overweight rating to a neutral rating in a research report on Monday, April 10th. Guggenheim restated a buy rating and issued a $70.00 price target on shares of AMC Networks in a research report on Tuesday, March 28th. Zacks Investment Research downgraded AMC Networks from a buy rating to a hold rating in a research report on Friday, April 14th. Jefferies Group LLC restated a hold rating and issued a $57.00 price target on shares of AMC Networks in a research report on Friday, February 24th. Finally, Stifel Nicolaus upgraded AMC Networks from a hold rating to a buy rating and lifted their target price for the stock from $56.00 to $70.00 in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $63.14.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.10. The company had revenue of $720.19 million during the quarter, compared to the consensus estimate of $720.15 million. AMC Networks had a return on equity of 408.71% and a net margin of 12.80%. AMC Networks’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share.
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In related news, EVP James Gallagher sold 4,000 shares of AMC Networks stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $58.75, for a total transaction of $235,000.00. Following the completion of the sale, the executive vice president now owns 12,260 shares of the company’s stock, valued at $720,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.19% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after buying an additional 4,922,108 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AMC Networks by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,553,340 shares of the company’s stock worth $267,189,000 after buying an additional 102,284 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of AMC Networks by 34.8% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,434,335 shares of the company’s stock worth $127,413,000 after buying an additional 628,796 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of AMC Networks by 5.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,061,061 shares of the company’s stock worth $106,887,000 after buying an additional 108,859 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of AMC Networks by 10.9% in the first quarter. Jennison Associates LLC now owns 1,621,675 shares of the company’s stock worth $95,160,000 after buying an additional 159,719 shares during the last quarter. 81.97% of the stock is owned by institutional investors.
About AMC Networks
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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