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

AMC Networks Inc. (NASDAQ:AMCX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.50 and traded as high as $10.24. AMC Networks shares last traded at $10.07, with a volume of 276,483 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on AMCX shares. Morgan Stanley set a $7.00 price objective on AMC Networks in a report on Thursday, April 30th. Weiss Ratings raised shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $8.50.

AMC Networks Stock Up 0.8%

The company’s 50-day simple moving average is $9.38 and its two-hundred day simple moving average is $8.50. The firm has a market capitalization of $442.38 million, a P/E ratio of 16.78 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.

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

Institutional Trading of AMC Networks

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in AMC Networks by 26.0% in 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. Vanguard Group Inc. grew its stake in shares of AMC Networks by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock valued at $17,881,000 after acquiring an additional 132,013 shares during the period. Marshall Wace LLP increased its holdings in AMC Networks by 3.2% in the 3rd quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock worth $12,069,000 after acquiring an additional 45,093 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in AMC Networks by 35.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after acquiring an additional 349,373 shares in the last quarter. Finally, UBS Group AG raised its stake in AMC Networks by 13.2% during the 3rd quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after acquiring an additional 136,771 shares during the period. Institutional investors 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.