AMC Networks (NASDAQ:AMCX) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• AMC Networks shares rose above their 200-day moving average, reaching $12.02 compared with the $9.73 average, before trading near $12.00.
• Analysts remain broadly bearish: two rate the stock Hold and three rate it Sell, producing a consensus rating of “Strong Sell” and an average price target of $10.33.
• The company’s latest quarter fell short of expectations, with an adjusted loss of $0.28 per share and revenue down 8.8% year over year to $547.5 million; an executive also sold 10,648 shares at an average price of $12.35.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.73 and traded as high as $12.02. AMC Networks shares last traded at $12.00, with a volume of 358,334 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AMCX shares. Zacks Research downgraded AMC Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 10th. Weiss Ratings cut AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Morgan Stanley upped their target price on AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Friday, July 31st. Wells Fargo & Company increased their price target on shares of AMC Networks from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Finally, UBS Group raised their price target on shares of AMC Networks from $6.00 to $10.00 and gave the stock a "sell" rating in a report on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, AMC Networks presently has a consensus rating of "Strong Sell" and an average target price of $10.33.

AMC Networks Trading Down 0.7%

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 company has a fifty day moving average of $11.69 and a 200-day moving average of $9.73. The firm has a market capitalization of $495 million, a PE ratio of -14.63 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm had revenue of $547.50 million during the quarter, compared to analysts' expectations of $555.74 million. During the same quarter last year, the firm earned $0.69 EPS. The business's revenue for the quarter was down 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AMC Networks Inc. will post 2.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Michael Sherin, III sold 10,648 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $12.35, for a total value of $131,502.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMC Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Integrated Wealth Concepts LLC acquired a new stake in AMC Networks in the second quarter valued at approximately $33,000. AXQ Capital LP acquired a new position in shares of AMC Networks during the 4th quarter worth $118,000. Meeder Asset Management Inc. increased its stake in shares of AMC Networks by 70.2% during the 1st quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company's stock worth $126,000 after purchasing an additional 7,643 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of AMC Networks by 18.5% during the 1st quarter. First Trust Advisors LP now owns 19,720 shares of the company's stock valued at $134,000 after purchasing an additional 3,074 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of AMC Networks by 14.1% during the 1st quarter. SG Americas Securities LLC now owns 23,405 shares of the company's stock valued at $159,000 after purchasing an additional 2,885 shares in the last quarter. Institutional investors own 78.51% of the company's stock.

AMC Networks Company Profile

AMC Networks Inc NASDAQ: AMCX is an entertainment company that develops, produces, and distributes television and streaming content. Its portfolio includes the AMC, BBC America, IFC, SundanceTV, and WE tv networks, which feature scripted and unscripted series, films, documentaries, and other original programming.

The company also operates a range of direct-to-consumer streaming services, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. These platforms offer original series, movies, genre-focused programming, and content from AMC Networks' television brands and production businesses.

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