AMC Networks (NASDAQ:AMCX) CAO Sells 5,963 Shares

Key Points

• CAO Michael Sherin III sold 5,963 AMC Networks shares on March 10 at an average price of $7.96 for roughly $47,465, cutting his holding by 35.9% to 10,648 shares.
• Shares traded around $7.63 midday with a market cap of about $325.9M and a P/E of 5.57, and the stock sits in a 52‑week range of $5.41–$10.27.
• AMC reported Q results that beat estimates (EPS $0.64 vs $0.50 and revenue $594.8M vs $581.8M), but analysts still carry a consensus "Strong Sell" rating with an average price target of $7.00.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) CAO Michael Sherin III sold 5,963 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total transaction of $47,465.48. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AMC Networks Stock Performance

Shares of NASDAQ:AMCX traded down $0.33 during midday trading on Wednesday, hitting $7.63. The company's stock had a trading volume of 586,267 shares, compared to its average volume of 463,225. The stock has a market capitalization of $325.88 million, a price-to-earnings ratio of 5.57 and a beta of 1.06. The stock's 50 day simple moving average is $8.13 and its 200 day simple moving average is $8.20. AMC Networks Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $10.27. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.67 and a current ratio of 1.67.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $581.83 million. During the same period in the previous year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts anticipate that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMCX. Morgan Stanley upped their price target on AMC Networks from $5.50 to $6.00 and gave the stock an "underweight" rating in a report on Thursday, December 18th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AMC Networks in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price 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. Seaport Research Partners downgraded shares of AMC Networks from a "strong-buy" rating to a "hold" rating in a report on Sunday, December 14th. Finally, Zacks Research upgraded shares of AMC Networks from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, AMC Networks has an average rating of "Strong Sell" and an average price target of $7.00.

Institutional Trading of AMC Networks

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of AMC Networks by 33.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 791,874 shares of the company's stock valued at $6,549,000 after purchasing an additional 199,186 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of AMC Networks by 9.9% in the 2nd quarter. Acadian Asset Management LLC now owns 365,819 shares of the company's stock worth $2,292,000 after purchasing an additional 32,825 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of AMC Networks during the 3rd quarter worth about $995,000. Atria Investments Inc lifted its holdings in AMC Networks by 103.2% during the 2nd quarter. Atria Investments Inc now owns 37,842 shares of the company's stock valued at $237,000 after purchasing an additional 19,216 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in AMC Networks by 11.5% during the 2nd quarter. American Century Companies Inc. now owns 995,837 shares of the company's stock valued at $6,244,000 after purchasing an additional 102,346 shares during 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.

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