AMC Networks (NASDAQ:AMCX) Trading 5.7% Higher

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) shot up 5.7% during mid-day trading on Wednesday . The company traded as high as $17.48 and last traded at $17.44. 561,628 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 643,550 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

AMCX has been the topic of a number of research reports. Morgan Stanley dropped their price objective on AMC Networks from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Monday, February 12th. TheStreet upgraded AMC Networks from a "d+" rating to a "c-" rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a report on Saturday, February 17th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat, AMC Networks currently has a consensus rating of "Hold" and a consensus target price of $11.75.

AMC Networks Stock Performance

The company has a debt-to-equity ratio of 2.06, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a fifty day simple moving average of $12.39 and a 200 day simple moving average of $14.85. The company has a market cap of $780.60 million, a price-to-earnings ratio of 5.02 and a beta of 1.22.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, May 10th. The company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.63). AMC Networks had a net margin of 6.09% and a return on equity of 23.57%. The company had revenue of $596.50 million for the quarter, compared to analyst estimates of $601.74 million. During the same quarter last year, the business earned $2.62 EPS. The company's revenue for the quarter was down 16.9% on a year-over-year basis. On average, sell-side analysts expect that AMC Networks Inc. will post 4.93 earnings per share for the current fiscal year.

Insider Transactions at AMC Networks

In other news, CAO Michael J. Sherin III sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the sale, the chief accounting officer now owns 4,948 shares in the company, valued at $77,238.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Michael J. Sherin III sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.61, for a total value of $46,830.00. Following the sale, the chief accounting officer now owns 4,948 shares in the company, valued at $77,238.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James Gallagher sold 25,000 shares of the firm's stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the sale, the executive vice president now owns 1,659 shares in the company, valued at approximately $25,780.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,407 shares of company stock worth $700,553. Insiders own 25.87% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its position in AMC Networks by 206.2% in the third quarter. Signaturefd LLC now owns 2,364 shares of the company's stock worth $28,000 after purchasing an additional 1,592 shares during the period. GAMMA Investing LLC bought a new position in shares of AMC Networks during the fourth quarter valued at $33,000. Public Employees Retirement System of Ohio lifted its holdings in shares of AMC Networks by 20.2% during the third quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company's stock valued at $52,000 after acquiring an additional 737 shares during the period. EntryPoint Capital LLC bought a new position in shares of AMC Networks during the first quarter valued at $60,000. Finally, EMC Capital Management lifted its holdings in shares of AMC Networks by 270.1% during the third quarter. EMC Capital Management now owns 6,292 shares of the company's stock valued at $74,000 after acquiring an additional 4,592 shares during the period. 78.51% of the stock is owned by institutional investors.

About AMC Networks

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.