Michael Sherin III Sells 10,648 Shares of AMC Networks (NASDAQ:AMCX) Stock

AMC Networks Inc. (NASDAQ:AMCX) CAO Michael Sherin III sold 10,648 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.35, for a total value of $131,502.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

AMC Networks Stock Performance

NASDAQ:AMCX traded down $0.05 during mid-day trading on Wednesday, hitting $12.14. 380,401 shares of the company’s stock traded hands, compared to its average volume of 521,450. The firm has a market capitalization of $500.77 million, a price-to-earnings ratio of -14.80 and a beta of 1.35. The firm has a 50 day moving average of $11.46 and a two-hundred day moving average of $9.57. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76. AMC Networks Inc. has a 12 month low of $6.47 and a 12 month high of $12.93.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price 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. Weiss Ratings downgraded shares of AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Zacks Research lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 10th. Morgan Stanley boosted their price objective on shares of AMC Networks from $7.00 to $10.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Finally, UBS Group upped their price objective on shares of AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average target price of $10.33.

Hedge Funds Weigh In On AMC Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in shares of AMC Networks during the 2nd quarter worth about $33,000. Lone Peak Global Investors LLC increased its stake in AMC Networks by 1.9% in the second 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 period. Segall Bryant & Hamill LLC acquired a new position in AMC Networks in the first quarter worth about $1,060,000. Quantinno Capital Management LP raised its position in AMC Networks by 8.4% in the first quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock worth $379,000 after purchasing an additional 4,325 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in AMC Networks by 2.4% in the first quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock worth $866,000 after purchasing an additional 3,000 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.