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

AMC Networks Inc. (NASDAQ:AMCX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.43 and traded as high as $10.46. AMC Networks shares last traded at $10.08, with a volume of 510,706 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley set a $7.00 price objective on AMC Networks in a research note on Thursday, April 30th. Weiss Ratings upgraded AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 21st. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $8.50.

AMC Networks Price Performance

The firm has a 50-day moving average price of $8.72 and a 200 day moving average price of $8.44. 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 has a market cap of $442.81 million, a price-to-earnings ratio of 16.80 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). The firm had revenue of $542.13 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.52 EPS. Sell-side analysts predict that AMC Networks Inc. will post 1.82 EPS for the current year.

Institutional Investors Weigh In On AMC Networks

A number of large investors have recently added to or reduced their stakes in AMCX. Charles Schwab Investment Management Inc. grew its position in AMC Networks by 26.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock worth $21,366,000 after buying an additional 462,457 shares in the last quarter. Marshall Wace LLP grew its position in AMC Networks by 39.2% during the second 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in AMC Networks by 35.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after buying an additional 349,373 shares in the last quarter. Millennium Management LLC grew its position in AMC Networks by 1,309.4% during the fourth quarter. Millennium Management LLC now owns 346,923 shares of the company’s stock worth $3,303,000 after buying an additional 322,308 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in AMC Networks by 902.2% during the third 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 in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Company Profile

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.