AMC Networks (NASDAQ:AMCX) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

AMC Networks Inc. (NASDAQ:AMCX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.49 and traded as high as $10.30. AMC Networks shares last traded at $9.98, with a volume of 416,774 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMCX. Weiss Ratings downgraded AMC Networks from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 17th. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $8.50.

AMC Networks Trading Down 0.7%

The company’s 50 day simple moving average is $9.19 and its 200 day simple moving average is $8.49. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $438.42 million, a price-to-earnings ratio of 16.63 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.14). The company had revenue of $542.13 million during 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%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 earnings per share. As a group, research analysts expect that AMC Networks Inc. will post 1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of AMC Networks in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after acquiring an additional 2,735 shares in the last quarter. Advisory Services Network LLC purchased a new position in AMC Networks in the third quarter worth approximately $43,000. State of Wyoming purchased a new position in AMC Networks in the second quarter worth approximately $51,000. Finally, Kestra Advisory Services LLC acquired a new position in AMC Networks during the 4th quarter worth approximately $63,000. 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.