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

AMC Networks Inc. (NASDAQ:AMCX)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.05 and traded as high as $10.97. AMC Networks shares last traded at $10.94, with a volume of 732,901 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMCX shares. Weiss Ratings lowered AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley increased 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. Zacks Research downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 10th. Finally, UBS Group raised their price objective 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $10.33.

AMC Networks Price Performance

The stock has a market cap of $445.91 million, a P/E ratio of -13.18 and a beta of 1.39. The firm has a 50-day moving average price of $11.94 and a 200-day moving average price of $10.06. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results 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 business had revenue of $547.50 million for the quarter, compared to analysts’ expectations 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 was down 8.8% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. On average, analysts forecast that AMC Networks Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling at AMC Networks

In related news, CAO Michael Sherin, III sold 10,648 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were 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 at the SEC website. 16.13% of the stock is owned by insiders.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of AMC Networks by 35.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock valued at $9,423,000 after acquiring an additional 349,373 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in AMC Networks during the 1st quarter valued at approximately $1,060,000. Bank of New York Mellon Corp raised its stake in AMC Networks by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 144,015 shares of the company’s stock valued at $978,000 after purchasing an additional 4,649 shares during the period. Gabelli Funds LLC lifted 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 worth $866,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in AMC Networks by 69.6% in the 1st quarter. Principal Financial Group Inc. now owns 80,732 shares of the company’s stock worth $548,000 after purchasing an additional 33,127 shares during the period. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

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.