Shares of AMC Networks Inc. (NASDAQ:AMCX) shot up 6.2% during trading on Tuesday . The stock traded as high as $56.19 and last traded at $56.15. 1,607,700 shares changed hands during trading, an increase of 113% from the average session volume of 753,941 shares. The stock had previously closed at $52.86.
AMCX has been the subject of several research reports. ValuEngine upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Group reiterated a “hold” rating and issued a $65.00 target price on shares of AMC Networks in a report on Tuesday, September 12th. Cowen reiterated a “hold” rating and issued a $53.00 target price on shares of AMC Networks in a report on Thursday, September 21st. Piper Jaffray Companies set a $60.00 target price on shares of AMC Networks and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley dropped their target price on shares of AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. AMC Networks currently has an average rating of “Hold” and a consensus target price of $60.58.
The stock has a market cap of $3,443.91, a P/E ratio of 8.00, a P/E/G ratio of 1.04 and a beta of 1.10. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 37.53.
Large investors have recently bought and sold shares of the business. Advisor Group Inc. grew its stake in shares of AMC Networks by 24.4% in the second 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 grew its stake in shares of AMC Networks by 9.1% in the second 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 acquired a new position in shares of AMC Networks in the second quarter worth $153,000. Riverhead Capital Management LLC grew its stake in shares of AMC Networks by 69.9% in the second 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. grew its stake in shares of AMC Networks by 2.8% in the second 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. Institutional investors and hedge funds own 86.95% of the company’s stock.
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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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