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

AMC Networks Inc. (NASDAQ:AMCX) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $10.20 and traded as high as $10.86. AMC Networks shares last traded at $10.15, with a volume of 1,072,456 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMCX shares. Zacks Research lowered AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 10th. Morgan Stanley dropped their price objective on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings downgraded AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, UBS Group boosted their price target on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $10.00.

AMC Networks Price Performance

The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $418.69 million, a price-to-earnings ratio of -12.38 and a beta of 1.39. The business has a fifty day moving average price of $11.85 and a 200 day moving average price of $10.20.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The company had revenue of $547.50 million for the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%. AMC Networks’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, research analysts anticipate that AMC Networks Inc. will post 2.41 earnings per share for the current year.

Insider Transactions at AMC Networks

In other AMC Networks news, CAO Michael Sherin, III sold 10,648 shares of AMC Networks stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.35, for a total transaction of $131,502.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 16.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMC Networks

Several large investors have recently modified their holdings of AMCX. Integrated Wealth Concepts LLC bought a new stake in AMC Networks in the second quarter worth approximately $33,000. Meeder Asset Management Inc. grew its stake in AMC Networks by 70.2% in the 1st quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company’s stock valued at $126,000 after purchasing an additional 7,643 shares during the period. First Trust Advisors LP raised its stake 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 worth $134,000 after purchasing an additional 3,074 shares during the period. SG Americas Securities LLC boosted its holdings in shares of AMC Networks by 14.1% in the 1st quarter. SG Americas Securities LLC now owns 23,405 shares of the company’s stock worth $159,000 after buying an additional 2,885 shares during the last quarter. Finally, Range Financial Group LLC grew its position in AMC Networks by 14.5% during the first quarter. Range Financial Group LLC now owns 31,473 shares of the company’s stock valued at $214,000 after buying an additional 3,981 shares during the period. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Company Profile

AMC Networks Inc is an entertainment company that develops, produces, and distributes television and digital content. Its portfolio includes national cable networks such as AMC, WE tv, IFC, SundanceTV, and BBC America, along with streaming services including AMC+, Acorn TV, Shudder, ALLBLK, and HIDIVE.

The company’s programming spans scripted dramas, films, documentaries, unscripted series, anime, and other specialty content. AMC Networks also licenses and distributes its programming through pay-TV providers, digital platforms, and international channels, serving audiences in the United States and selected markets worldwide.

AMC Networks traces its roots to Rainbow Media, a Cablevision subsidiary that operated several specialty television networks.