AMC Networks (NASDAQ:AMCX) Stock Passes Above 200 Day Moving Average – What’s Next?

AMC Networks Inc. (NASDAQ:AMCX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.10 and traded as high as $8.83. AMC Networks shares last traded at $8.58, with a volume of 277,974 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMCX shares. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company raised their target price on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average target price of $7.33.

AMC Networks Stock Performance

The company has a 50-day simple moving average of $7.62 and a two-hundred day simple moving average of $8.11. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $374.14 million, a P/E ratio of 6.39 and a beta of 1.16.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.14. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The business had revenue of $594.80 million for the quarter, compared to analysts’ expectations of $581.83 million. During the same period in the previous year, the firm posted $0.64 EPS. The business’s revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that AMC Networks Inc. will post 1.79 EPS for the current year.

Insider Activity at AMC Networks

In other news, CAO Michael J. Sherin III sold 5,963 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 $84,758.08. The trade was a 35.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.62% of the stock is currently owned by corporate insiders.

Institutional Trading of AMC Networks

A number of hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management bought a new stake in shares of AMC Networks in the 1st quarter worth approximately $301,000. SG Americas Securities LLC raised its holdings in AMC Networks by 14.1% in the 1st quarter. SG Americas Securities LLC now owns 23,405 shares of the company’s stock worth $159,000 after acquiring an additional 2,885 shares during the last quarter. Hsbc Holdings PLC raised its holdings in AMC Networks by 22.0% in the 4th quarter. Hsbc Holdings PLC now owns 29,598 shares of the company’s stock worth $283,000 after acquiring an additional 5,336 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in AMC Networks in the 4th quarter worth approximately $113,000. Finally, Empowered Funds LLC raised its holdings in AMC Networks by 11.0% in the 4th quarter. Empowered Funds LLC now owns 267,020 shares of the company’s stock worth $2,542,000 after acquiring an additional 26,502 shares during the last quarter. 78.51% of the stock is owned by 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.