AMC Networks (NASDAQ:AMCX) Shares Cross Above 200-Day Moving Average – Time to Sell?

AMC Networks Inc. (NASDAQ:AMCX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.76 and traded as high as $8.61. AMC Networks shares last traded at $8.40, with a volume of 255,362 shares trading hands.

Analyst Upgrades and Downgrades

AMCX has been the subject of several research reports. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, October 8th. Seaport Res Ptn cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Wells Fargo & Company raised shares of AMC Networks from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $5.00 to $8.00 in a report on Monday, November 10th. Finally, Morgan Stanley lifted their target price 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. Three equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AMC Networks presently has a consensus rating of “Strong Sell” and a consensus price target of $6.50.

AMC Networks Trading Down 1.4%

The company has a debt-to-equity ratio of 1.76, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market cap of $360.43 million, a P/E ratio of -2.21 and a beta of 1.04. The firm’s fifty day moving average price is $8.99 and its two-hundred day moving average price is $7.79.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. The business had revenue of $561.74 million for the quarter, compared to the consensus estimate of $549.27 million. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMCX. RWWM Inc. lifted its stake in AMC Networks by 22.7% during the second quarter. RWWM Inc. now owns 3,330,026 shares of the company’s stock worth $20,879,000 after purchasing an additional 617,105 shares during the last quarter. Marshall Wace LLP lifted its position in AMC Networks by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 1,419,545 shares of the company’s stock worth $8,901,000 after buying an additional 399,478 shares during the last quarter. Russell Investments Group Ltd. lifted its position in AMC Networks by 902.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 286,603 shares of the company’s stock worth $2,362,000 after buying an additional 258,005 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 buying an additional 204,895 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in AMC Networks during the third quarter valued at approximately $1,328,000. Institutional investors 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.