AMC Networks (NASDAQ:AMCX) Stock Price Down 7.1% Following Insider Selling

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report)'s stock price fell 7.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $16.61 and last traded at $16.65. 330,958 shares were traded during mid-day trading, a decline of 49% from the average session volume of 645,612 shares. The stock had previously closed at $17.92.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AMCX. TheStreet upgraded AMC Networks from a "d+" rating to a "c-" rating in a research note on Tuesday, February 13th. Morgan Stanley lowered their target price on shares of AMC Networks from $12.00 to $11.00 and set an "underweight" rating for the company in a research note on Monday, February 12th. Finally, StockNews.com downgraded AMC Networks from a "buy" rating to a "hold" rating in a research 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 data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.75.

AMC Networks Stock Performance

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $718.74 million, a price-to-earnings ratio of 4.72 and a beta of 1.22. The stock's fifty day simple moving average is $12.39 and its 200-day simple moving average is $14.85.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its 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). The company had revenue of $596.50 million for the quarter, compared to analyst estimates of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.62 earnings per share. Analysts predict that AMC Networks Inc. will post 4.93 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of AMC Networks by 206.2% during the 3rd 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 last quarter. GAMMA Investing LLC purchased a new stake in shares of AMC Networks during the 4th quarter worth approximately $33,000. Public Employees Retirement System of Ohio grew 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 worth $52,000 after purchasing an additional 737 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in AMC Networks in the first quarter valued at approximately $60,000. Finally, EMC Capital Management boosted its stake 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 worth $74,000 after buying an additional 4,592 shares during the period. Institutional investors and hedge funds own 78.51% of the company's stock.

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.