AMC Networks (NASDAQ:AMCX) CAO Sells $131,502.80 in Stock

AMC Networks Inc. (NASDAQ:AMCX) CAO Michael Sherin III sold 10,648 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.35, for a total value of $131,502.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

AMC Networks Stock Down 2.1%

AMCX opened at $11.52 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The firm has a market cap of $475.20 million, a P/E ratio of -14.05 and a beta of 1.35. AMC Networks Inc. has a 52 week low of $6.47 and a 52 week high of $12.93. The business’s fifty day simple moving average is $11.57 and its 200 day simple moving average is $9.64.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. As a group, equities research analysts anticipate that AMC Networks Inc. will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Several institutional investors have recently bought and sold shares of AMCX. Integrated Wealth Concepts LLC acquired a new stake in shares of AMC Networks in the second quarter worth $33,000. Lone Peak Global Investors LLC lifted its holdings in shares of AMC Networks by 1.9% during the 2nd quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company’s stock valued at $447,000 after acquiring an additional 833 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in AMC Networks during the 1st quarter worth $1,060,000. Quantinno Capital Management LP boosted its position in AMC Networks by 8.4% during the 1st quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock worth $379,000 after purchasing an additional 4,325 shares during the period. Finally, Gabelli Funds LLC increased its holdings in AMC Networks by 2.4% in the 1st quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after purchasing an additional 3,000 shares in the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group upped their target price on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Zacks Research cut shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 10th. Finally, Morgan Stanley boosted their target price on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $10.33.

AMC Networks Company Profile

AMC Networks Inc (NASDAQ: AMCX) is an entertainment company that develops, produces, and distributes television and streaming content. Its portfolio includes the AMC, BBC America, IFC, SundanceTV, and WE tv networks, which feature scripted and unscripted series, films, documentaries, and other original programming.

The company also operates a range of direct-to-consumer streaming services, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. These platforms offer original series, movies, genre-focused programming, and content from AMC Networks’ television brands and production businesses.