AMC Networks (NASDAQ:AMCX) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of AMC Networks Inc. (NASDAQ:AMCX) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.26 and traded as high as $9.59. AMC Networks shares last traded at $9.54, with a volume of 407,120 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.50.

AMC Networks Stock Performance

The firm has a market capitalization of $419.09 million, a PE ratio of 15.90 and a beta of 1.31. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75. The company’s fifty day simple moving average is $7.90 and its 200 day simple moving average is $8.26.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). The business had revenue of $542.13 million for the quarter, compared to analysts’ expectations of $540.67 million. AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. AMC Networks’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. As a group, equities research analysts expect that AMC Networks Inc. will post 1.82 EPS for the current fiscal year.

Insider Activity

In other news, CAO Michael J. Sherin III sold 5,963 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.62% of the company’s stock.

Institutional Investors Weigh In On AMC Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of AMC Networks in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after buying an additional 2,735 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of AMC Networks in the third quarter worth about $43,000. State of Wyoming bought a new position in shares of AMC Networks in the second quarter worth approximately $51,000. Finally, Kestra Advisory Services LLC bought a new position in shares of AMC Networks in the fourth quarter worth approximately $63,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.