AMC Networks (NASDAQ:AMCX) Shares Cross Above 200 Day Moving Average – Should You Sell?

AMC Networks Inc. (NASDAQ:AMCX)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $11.13. AMC Networks shares last traded at $10.90, with a volume of 1,035,759 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMCX. Weiss Ratings upgraded AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Morgan Stanley set a $7.00 price target on AMC Networks in a report on Thursday, April 30th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, AMC Networks currently has an average rating of “Reduce” and a consensus target price of $8.50.

AMC Networks Trading Up 2.9%

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 stock has a market capitalization of $478.84 million, a P/E ratio of 18.17 and a beta of 1.31. The firm’s 50 day simple moving average is $9.60 and its two-hundred day simple moving average is $8.52.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.14). The company had revenue of $542.13 million for the quarter, compared to the consensus estimate of $540.67 million. AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.AMC Networks’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. As a group, analysts forecast that AMC Networks Inc. will post 1.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in AMC Networks by 25.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 996,769 shares of the company’s stock worth $9,220,000 after acquiring an additional 204,895 shares in the last quarter. WINTON GROUP Ltd grew its stake in AMC Networks by 213.0% in the fourth quarter. WINTON GROUP Ltd now owns 56,925 shares of the company’s stock valued at $542,000 after acquiring an additional 38,739 shares during the period. State of Wyoming increased its holdings in shares of AMC Networks by 76.8% during the fourth quarter. State of Wyoming now owns 49,589 shares of the company’s stock valued at $472,000 after acquiring an additional 21,548 shares in the last quarter. AXQ Capital LP bought a new stake in shares of AMC Networks during the fourth quarter valued at approximately $118,000. Finally, Verus Capital Partners LLC raised its position in shares of AMC Networks by 7.4% during the fourth quarter. Verus Capital Partners LLC now owns 80,300 shares of the company’s stock worth $764,000 after purchasing an additional 5,500 shares during the period. 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.