AMC Networks (NASDAQ:AMCX) CAO Michael Sherin III Sells 10,648 Shares of 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 shares were sold at an average price of $12.35, for a total transaction of $131,502.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

AMC Networks Stock Down 0.4%

Shares of NASDAQ:AMCX traded down $0.05 during midday trading on Wednesday, hitting $12.14. 380,401 shares of the stock were exchanged, compared to its average volume of 521,450. 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 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 $11.46 and its two-hundred day simple moving average is $9.57. The company has a market capitalization of $500.77 million, a PE ratio of -14.80 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On AMC Networks

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake 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 worth $9,423,000 after buying an additional 349,373 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in AMC Networks in the 1st quarter valued at $1,060,000. Bank of New York Mellon Corp grew its stake in AMC Networks by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 144,015 shares of the company’s stock valued at $978,000 after buying an additional 4,649 shares during the last quarter. Gabelli Funds LLC raised 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 acquiring an additional 3,000 shares during the period. Finally, Principal Financial Group Inc. raised its holdings 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 acquiring an additional 33,127 shares during the period. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

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.