AMC Networks (NASDAQ:AMCX) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

AMC Networks Inc. (NASDAQ:AMCX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.49 and traded as high as $10.30. AMC Networks shares last traded at $9.98, with a volume of 416,774 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMCX. Weiss Ratings cut AMC Networks from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 17th. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a research note on Thursday, April 30th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $8.50.

AMC Networks Price Performance

The firm has a market cap of $450.72 million, a P/E ratio of 17.10 and a beta of 1.31. The company has a fifty day moving average of $9.23 and a 200-day moving average of $8.49. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.14). The company had revenue of $542.13 million for the quarter, compared to the consensus estimate of $540.67 million. AMC Networks had a net margin of 2.28% and a return on equity of 8.70%. AMC Networks’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. On average, sell-side analysts anticipate that AMC Networks Inc. will post 1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in AMC Networks by 26.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock worth $21,366,000 after purchasing an additional 462,457 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of AMC Networks by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock worth $17,881,000 after buying an additional 132,013 shares in the last quarter. Marshall Wace LLP boosted its stake 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 buying an additional 45,093 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of AMC Networks by 35.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after buying an additional 349,373 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of AMC Networks by 13.2% in the third quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock valued at $9,645,000 after acquiring an additional 136,771 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.