AMC Networks (NASDAQ:AMCX) CAO Sells $47,465.48 in Stock

AMC Networks Inc. (NASDAQ:AMCX) CAO Michael Sherin III sold 5,963 shares of AMC Networks stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer owned 10,648 shares in the company, valued at approximately $84,758.08. The trade was a 35.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AMC Networks Stock Down 3.1%

Shares of NASDAQ:AMCX opened at $7.21 on Friday. AMC Networks Inc. has a 52-week low of $5.41 and a 52-week high of $10.27. The stock has a market cap of $307.94 million, a P/E ratio of 5.26 and a beta of 1.06. The business has a fifty day moving average of $8.01 and a two-hundred day moving average of $8.19. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.50 by $0.14. The business had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, research analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMCX. Charles Schwab Investment Management Inc. increased its position in shares of AMC Networks by 26.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock valued at $21,366,000 after acquiring an additional 462,457 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AMC Networks by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock valued at $17,881,000 after acquiring an additional 132,013 shares during the period. Marshall Wace LLP lifted its holdings in shares of AMC Networks by 3.2% in the 3rd quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock worth $12,069,000 after acquiring an additional 45,093 shares during the last quarter. UBS Group AG boosted its position in shares of AMC Networks by 13.2% during the 3rd quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after purchasing an additional 136,771 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of AMC Networks by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,019,989 shares of the company’s stock worth $9,712,000 after purchasing an additional 15,635 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Seaport Research Partners downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Morgan Stanley raised their price target on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, December 18th. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price objective on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $7.00.

AMC Networks Company Profile

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.