Albert Fried Reiterates a Sell Rating on AMC Networks

By Carrie Williams

Albert Fried analyst Richard Tullo reiterated a Sell rating on AMC Networks (NASDAQ: AMCX) on November 9 and set a price target of $37. The company’s shares opened today at $53.57.

According to TipRanks.com, Tullo is a 2-star analyst with an average return of -0.3% and a 52.1% success rate. Tullo covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Live Nation Entertainment, and Madison Square Garden Co.

AMC Networks has an analyst consensus of Hold, with a price target consensus of $64.50.

AMC Networks’ market cap is currently $3.76B and has a P/E ratio of 11.21. The company has a book value ratio of 34.1632.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AMCX in relation to earlier this year. Most recently, in March 2016, Leonard Tow, a Director at AMCX bought 1,000 shares for a total of $17,370.

AMC Networks, Inc. is a holding company that owns and operates cable television networks through its subsidiaries. The company operates its business through two segments: National Networks and International & Other. The National Networks segment principally includes four nationally distributed programming networks: AMC, WE tv, IFC and SundanceTV. These programming networks are distributed throughout the United States via cable and other multichannel video programming distribution platforms, including direct broadcast satellite and platforms operated by telecommunications providers. The International & Other segment principally includes Chellomedia and AMC/Sundance Channel Global, the company’s international programming businesses; IFC Films, the company’s independent film distribution business; Chello DMC, the broadcast solutions unit of Chellomedia; and various developing on-line content distribution initiatives. AMC Networks was founded by Charles Francis Dolan on March 9, 2011 and is headquartered in New York, NY.