AMC Networks (NASDAQ:AMCX) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

AMC Networks Inc. (NASDAQ:AMCX)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.26 and traded as high as $9.59. AMC Networks shares last traded at $9.54, with a volume of 407,120 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMCX. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a report on Thursday, April 30th. Wells Fargo & Company lifted their price target on shares of AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Finally, Weiss Ratings raised shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, AMC Networks has an average rating of “Reduce” and a consensus price target of $8.50.

AMC Networks Trading Up 3.2%

The firm’s 50-day moving average is $7.90 and its 200 day moving average is $8.26. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $419.09 million, a price-to-earnings ratio of 15.90 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The business had revenue of $542.13 million for the quarter, compared to analyst estimates of $540.67 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts predict that AMC Networks Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Michael J. Sherin III sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer owned 10,648 shares in the company, valued at approximately $84,758.08. The trade was a 35.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC acquired a new position in shares of AMC Networks during the 1st quarter valued at $1,060,000. Quantinno Capital Management LP lifted its position in shares of AMC Networks by 8.4% during the 1st quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock valued at $379,000 after acquiring an additional 4,325 shares during the period. Gabelli Funds LLC lifted its position in shares of AMC Networks by 2.4% during the 1st quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after acquiring an additional 3,000 shares during the period. Cetera Investment Advisers lifted its position in shares of AMC Networks by 261.7% during the 1st quarter. Cetera Investment Advisers now owns 41,175 shares of the company’s stock valued at $280,000 after acquiring an additional 29,792 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of AMC Networks by 18.5% during the 1st quarter. First Trust Advisors LP now owns 19,720 shares of the company’s stock valued at $134,000 after acquiring an additional 3,074 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.