AMC Networks (NASDAQ:AMCX) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• AMC Networks' stock (NASDAQ:AMCX) has recently crossed above its 200-day moving average, which stood at $6.66, with a current trading price of $7.83.
• Despite this positive movement, analysts have issued mixed ratings, with one strongly recommending the stock as a buy while four others rate it a sell, leading to an average price target of $5.38.
• The company reported earnings of $0.69 per share for the last quarter, exceeding analyst expectations, although its revenue declined 4.1% year-over-year.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.66 and traded as high as $8.40. AMC Networks shares last traded at $7.83, with a volume of 270,999 shares trading hands.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reiterated an "underweight" rating on shares of AMC Networks in a research report on Sunday, August 10th. One analyst has rated the stock with a Strong Buy rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $5.38.

AMC Networks Price Performance

The business has a 50 day moving average of $7.25 and a 200 day moving average of $6.66. The company has a market cap of $339.70 million, a PE ratio of -1.79 and a beta of 1.47. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.07.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.15. AMC Networks had a positive return on equity of 15.73% and a negative net margin of 7.42%.The company had revenue of $600.02 million during the quarter, compared to analyst estimates of $582.99 million. During the same quarter last year, the firm posted $1.24 earnings per share. The firm's revenue was down 4.1% on a year-over-year basis. AMC Networks has set its FY 2025 guidance at EPS. As a group, research analysts predict that AMC Networks Inc. will post 2.62 EPS for the current year.

Hedge Funds Weigh In On AMC Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in AMC Networks by 44.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 396,710 shares of the company's stock valued at $2,721,000 after buying an additional 121,844 shares during the period. Concurrent Investment Advisors LLC lifted its position in AMC Networks by 115.6% during the first quarter. Concurrent Investment Advisors LLC now owns 23,057 shares of the company's stock valued at $159,000 after buying an additional 12,365 shares during the period. Y Intercept Hong Kong Ltd lifted its position in AMC Networks by 570.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company's stock valued at $625,000 after buying an additional 77,350 shares during the period. Graham Capital Management L.P. lifted its position in AMC Networks by 422.0% during the first quarter. Graham Capital Management L.P. now owns 136,955 shares of the company's stock valued at $942,000 after buying an additional 110,719 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in AMC Networks by 17.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company's stock valued at $4,702,000 after buying an additional 100,158 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.

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