AMC Networks (NASDAQ:AMCX) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• AMC Networks shares rose above their 200-day moving average during Thursday’s trading, reaching as high as $11.13 and last trading near $10.90. The move came with heavy volume of more than 1.0 million shares.
• Wall Street sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $8.50. Recent notes included a Weiss Ratings downgrade and a $7.00 target from Morgan Stanley.
• Recent earnings were mixed: AMC Networks posted $0.08 EPS, missing estimates, while revenue of $542.13 million slightly topped expectations. The company also reported year-over-year revenue decline of 2.4%.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $11.13. AMC Networks shares last traded at $10.90, with a volume of 1,035,759 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of AMC Networks from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 2nd. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $8.50.

AMC Networks Trading Up 2.9%

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.75. The company has a market cap of $478.84 million, a price-to-earnings ratio of 18.17 and a beta of 1.31. The firm has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $8.52.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.14). AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The company had revenue of $542.13 million during the quarter, compared to analyst estimates of $540.67 million. During the same period in the prior year, the firm earned $0.52 earnings per share. AMC Networks's revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that AMC Networks Inc. will post 1.82 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in AMC Networks by 25.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 996,769 shares of the company's stock valued at $9,220,000 after buying an additional 204,895 shares during the period. SG Americas Securities LLC boosted its position in AMC Networks by 14.1% during the first quarter. SG Americas Securities LLC now owns 23,405 shares of the company's stock valued at $159,000 after acquiring an additional 2,885 shares during the last quarter. Range Financial Group LLC grew its holdings in AMC Networks by 14.5% during the 1st quarter. Range Financial Group LLC now owns 31,473 shares of the company's stock worth $214,000 after acquiring an additional 3,981 shares during the period. Ritholtz Wealth Management acquired a new stake in AMC Networks during the 1st quarter worth about $301,000. Finally, State of Wyoming grew its holdings in AMC Networks by 76.8% during the 4th quarter. State of Wyoming now owns 49,589 shares of the company's stock worth $472,000 after acquiring an additional 21,548 shares during the period. 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.

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