AMC Networks (NASDAQ:AMCX) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of AMC Networks Inc. (NASDAQ:AMCX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.52 and traded as high as $11.13. AMC Networks shares last traded at $10.90, with a volume of 1,035,759 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley set a $7.00 target price on AMC Networks in a report on Thursday, April 30th. Weiss Ratings upgraded AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, AMC Networks currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

AMC Networks Stock Performance

The stock has a market capitalization of $460.83 million, a P/E ratio of 17.48 and a beta of 1.31. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.75. The business has a fifty day moving average price of $9.63 and a 200-day moving average price of $8.54.

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

Institutional Trading of AMC Networks

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of AMC Networks during the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. grew its position in AMC Networks by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after purchasing an additional 2,735 shares during the period. Advisory Services Network LLC bought a new stake in AMC Networks in the 3rd quarter worth approximately $43,000. State of Wyoming purchased a new stake in AMC Networks during the 2nd quarter valued at $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in AMC Networks during the 4th quarter valued at $63,000. 78.51% of the stock is currently 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.