AMC Networks (NASDAQ:AMCX) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• AMC Networks shares rose above their 200-day moving average, reaching $12.15 and last trading at $12.12, compared with a 200-day average of $8.96.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $10.33, despite some recent target increases and one “strong-buy” upgrade.
• AMC Networks missed quarterly earnings expectations, reporting an adjusted loss of $0.28 per share versus the expected $0.12 loss, while revenue declined 8.8% year over year to $547.5 million.

Shares of AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.96 and traded as high as $12.15. AMC Networks shares last traded at $12.12, with a volume of 455,130 shares changing hands.

Analysts Set New Price Targets

AMCX has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Weiss Ratings lowered shares of AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Morgan Stanley raised their target price on AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. UBS Group lifted their price target on AMC Networks from $6.00 to $10.00 and gave the company a "sell" rating in a research note on Wednesday, August 12th. Finally, Zacks Research raised AMC Networks from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $10.33.

AMC Networks Stock Up 1.5%

The business's 50 day moving average is $10.50 and its 200-day moving average is $8.96. The stock has a market cap of $499.95 million, a price-to-earnings ratio of -14.78 and a beta of 1.33. 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 (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The company had revenue of $547.50 million during the quarter, compared to analysts' expectations of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.AMC Networks's revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, sell-side analysts predict that AMC Networks Inc. will post 2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. CWM LLC lifted its stake in AMC Networks by 13.8% in the 4th quarter. CWM LLC now owns 11,858 shares of the company's stock valued at $113,000 after buying an additional 1,437 shares in the last quarter. Cerity Partners LLC increased its stake in AMC Networks by 14.1% during the 4th quarter. Cerity Partners LLC now owns 11,903 shares of the company's stock worth $113,000 after buying an additional 1,473 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of AMC Networks by 6.8% during the fourth quarter. Federated Hermes Inc. now owns 26,452 shares of the company's stock valued at $252,000 after acquiring an additional 1,680 shares during the last quarter. Man Group plc raised its holdings in shares of AMC Networks by 6.7% during the second quarter. Man Group plc now owns 27,669 shares of the company's stock valued at $173,000 after acquiring an additional 1,735 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of AMC Networks by 18.2% in the third quarter. First Trust Advisors LP now owns 11,963 shares of the company's stock valued at $99,000 after acquiring an additional 1,840 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company's stock.

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.

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