AMC Networks (NASDAQ:AMCX) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

AMC Networks Inc. (NASDAQ:AMCX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.47 and traded as high as $9.41. AMC Networks shares last traded at $9.35, with a volume of 431,397 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley set a $7.00 price objective on shares of AMC Networks in a research report on Thursday, April 30th. Weiss Ratings lowered AMC Networks from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AMC Networks presently has an average rating of “Reduce” and an average target price of $8.50.

AMC Networks Trading Down 0.1%

The business’s 50 day moving average price is $8.97 and its 200-day moving average price is $8.47. The company has a market cap of $410.75 million, a price-to-earnings ratio of 15.58 and a beta of 1.35. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.75 and a current ratio of 1.75.

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

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently added to or reduced their stakes in AMCX. Charles Schwab Investment Management Inc. grew its stake in shares of AMC Networks by 26.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock valued at $21,366,000 after purchasing an additional 462,457 shares during the period. Vanguard Group Inc. grew its position in AMC Networks by 6.5% in the third quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock valued at $17,881,000 after acquiring an additional 132,013 shares during the period. Marshall Wace LLP grew its position in AMC Networks by 3.2% in the third quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock valued at $12,069,000 after acquiring an additional 45,093 shares during the period. Allspring Global Investments Holdings LLC raised its stake in AMC Networks by 35.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after acquiring an additional 349,373 shares in the last quarter. Finally, UBS Group AG raised its stake in AMC Networks by 13.2% during the third quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after acquiring an additional 136,771 shares in the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Company Profile

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.