NEW YORK (TheStreet) -- Netflix (NFLX) announced on Tuesday that CEO Reed Hastings will receive a 50% pay raise in 2014 following a successful 2013 for the company. Shares of the Internet video streaming company fell 0.2% to $366.38 during Tuesday trading.
In 2014 Hastings will earn a salary of $3 million, with another $3 million in stock options. For 2013, the CEO earned $2 million with $2 million in stock options. The raise comes after a year in which shares of the company surged 296%, and shows like House of Cards and Orange Is The New Black won three Emmy awards.
The news also comes on the heels of the company announcing tests of a new, cheaper streaming option and the termination of its shareholders rights plan. Most analysts covering the stock are bearish for 2014.
TheStreet Ratings team rates Netflix as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and generally higher debt management risk."