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

Shares of AMC Networks Inc. (NASDAQ:AMCX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.19 and traded as high as $8.22. AMC Networks shares last traded at $8.05, with a volume of 445,246 shares.

Wall Street Analyst Weigh In

AMCX has been the topic of a number of research reports. Morgan Stanley upped their price target on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, December 18th. Seaport Research Partners cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price target on 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 four have given a Sell rating to the company. According to MarketBeat, AMC Networks currently has an average rating of “Strong Sell” and an average target price of $7.00.

AMC Networks Trading Down 4.1%

The company has a fifty day simple moving average of $8.09 and a two-hundred day simple moving average of $8.19. The company has a market capitalization of $325.88 million, a P/E ratio of 5.57 and a beta of 1.06. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 1.67.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The business had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts forecast that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Insider Buying and Selling at AMC Networks

In related news, CAO Michael J. Sherin III sold 5,963 shares of the company’s stock in a transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC grew its position in shares of AMC Networks by 13.8% in the fourth quarter. CWM LLC now owns 11,858 shares of the company’s stock valued at $113,000 after purchasing an additional 1,437 shares during the last quarter. Cerity Partners LLC lifted its position in shares of AMC Networks by 14.1% during the 4th quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock worth $113,000 after purchasing an additional 1,473 shares during the last quarter. Federated Hermes Inc. boosted its stake in AMC Networks by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock valued at $252,000 after purchasing an additional 1,680 shares during the period. Man Group plc boosted its stake in AMC Networks by 6.7% during the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after purchasing an additional 1,735 shares during the period. Finally, First Trust Advisors LP grew its holdings in AMC Networks by 18.2% in the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after buying an additional 1,840 shares during the last quarter. 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.