AMC Networks (NASDAQ:AMCX) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• AMC Networks shares rose above their 200-day moving average, reaching $12.69 and last trading at $12.59 versus the $9.23 average.
• Analyst sentiment remains mostly bearish: three analysts rate the stock a Sell, one rates it Hold, and one Strong Buy. The consensus rating is “Reduce,” with a $10.33 target price—below the current share price.
• The company’s latest quarterly results missed expectations, with an adjusted loss of $0.28 per share and revenue of $547.5 million, down 8.8% year over year.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.23 and traded as high as $12.69. AMC Networks shares last traded at $12.59, with a volume of 487,732 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group increased their price target on AMC Networks from $6.00 to $10.00 and gave the company a "sell" rating in a research report on Wednesday, August 12th. Wells Fargo & Company upped their price target on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Zacks Research upgraded AMC Networks from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. Finally, Weiss Ratings cut shares of AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $10.33.

AMC Networks Price Performance

The business's fifty day moving average price is $10.97 and its 200 day moving average price is $9.23. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $519.34 million, a P/E ratio of -15.35 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The company's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. Sell-side analysts forecast that AMC Networks Inc. will post 2.77 EPS for the current fiscal year.

Institutional Trading of AMC Networks

A number of hedge funds and other institutional investors have recently modified their holdings of AMCX. Lone Peak Global Investors LLC lifted its stake in shares of AMC Networks by 1.9% in the 2nd quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company's stock valued at $447,000 after acquiring an additional 833 shares during the last quarter. CWM LLC boosted its holdings in shares of AMC Networks by 13.8% during the 4th quarter. CWM LLC now owns 11,858 shares of the company's stock valued at $113,000 after acquiring an additional 1,437 shares in the last quarter. Cerity Partners LLC grew its position 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 acquiring an additional 1,473 shares during the last quarter. Federated Hermes Inc. grew its position in AMC Networks by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 26,452 shares of the company's stock worth $252,000 after acquiring an additional 1,680 shares during the last quarter. Finally, Man Group plc increased its holdings in AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company's stock worth $173,000 after purchasing an additional 1,735 shares in the last quarter. Institutional investors 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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