AMC Networks (AMCX) Bond Prices Rise 0.5%

An issue of AMC Networks Inc. (NASDAQ:AMCX) bonds rose 0.5% against their face value during trading on Monday. The high-yield debt issue has a 4.75% coupon and is set to mature on August 1, 2025. The bonds in the issue are now trading at $99.50 and were trading at $98.71 one week ago. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price.

A number of brokerages recently issued reports on AMCX. Jefferies Group reissued a “hold” rating and set a $65.00 price target on shares of AMC Networks in a research note on Tuesday, September 12th. Cowen reissued a “hold” rating and set a $53.00 price target on shares of AMC Networks in a research note on Thursday, September 21st. Piper Jaffray Companies set a $60.00 price target on AMC Networks and gave the stock a “hold” rating in a research note on Wednesday, November 1st. ValuEngine raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Finally, Morgan Stanley decreased their price target on AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.73.

Shares of AMC Networks Inc. (NASDAQ AMCX) traded down $0.95 during midday trading on Monday, reaching $56.22. The company’s stock had a trading volume of 625,717 shares, compared to its average volume of 762,380. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53. The company has a market cap of $3,420.00, a price-to-earnings ratio of 11.09, a PEG ratio of 1.07 and a beta of 1.10. AMC Networks Inc. has a 1-year low of $46.89 and a 1-year high of $67.61.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.53. The business had revenue of $648.00 million during the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. AMC Networks’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. equities research analysts anticipate that AMC Networks Inc. will post 7.01 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its position in shares of AMC Networks by 24.4% in the 2nd quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after acquiring an additional 414 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AMC Networks by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of AMC Networks in the 2nd quarter worth $153,000. Riverhead Capital Management LLC raised its position in shares of AMC Networks by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after acquiring an additional 1,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of AMC Networks by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after acquiring an additional 88 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

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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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