AMC Networks (NASDAQ:AMCX) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

AMC Networks Inc. (NASDAQ:AMCX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.35 and traded as high as $10.47. AMC Networks shares last traded at $9.44, with a volume of 1,027,947 shares changing hands.

Analyst Upgrades and Downgrades

AMCX has been the subject of several research reports. Weiss Ratings raised shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Morgan Stanley set a $7.00 price objective on shares of AMC Networks in a report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price objective 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. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, AMC Networks has a consensus rating of “Reduce” and a consensus price target of $8.50.

AMC Networks Price Performance

The stock has a market capitalization of $414.70 million, a PE ratio of 15.73 and a beta of 1.35. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.75. The firm’s fifty day moving average price is $8.27 and its two-hundred day moving average price is $8.35.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.14). AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. The business had revenue of $542.13 million for the quarter, compared to analysts’ expectations of $540.67 million. During the same period in the prior year, the company posted $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 year.

Insider Buying and Selling

In other AMC Networks news, CAO Michael J. Sherin III sold 5,963 shares of the company’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 transaction of $47,465.48. Following the completion of the sale, the chief accounting officer directly owned 10,648 shares of the company’s stock, valued at approximately $84,758.08. This represents a 35.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.62% of the company’s stock.

Institutional Trading of AMC Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Empowered Funds LLC increased its holdings in AMC Networks by 8.5% during the first quarter. Empowered Funds LLC now owns 200,273 shares of the company’s stock valued at $1,378,000 after buying an additional 15,738 shares during the last quarter. Geode Capital Management LLC increased its holdings in AMC Networks by 4.0% during the second quarter. Geode Capital Management LLC now owns 933,023 shares of the company’s stock valued at $5,851,000 after buying an additional 36,203 shares during the last quarter. Cetera Investment Advisers purchased a new stake in AMC Networks during the second quarter valued at approximately $63,000. Rhumbline Advisers increased its holdings in AMC Networks by 19.4% during the second quarter. Rhumbline Advisers now owns 71,874 shares of the company’s stock valued at $451,000 after buying an additional 11,685 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in AMC Networks by 28,786.9% during the second quarter. Russell Investments Group Ltd. now owns 28,598 shares of the company’s stock valued at $179,000 after buying an additional 28,499 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.