AMC Networks (NASDAQ:AMCX) Stock Passes Above 200 Day Moving Average – Here’s Why

AMC Networks Inc. (NASDAQ:AMCX)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.23 and traded as high as $12.69. AMC Networks shares last traded at $12.59, with a volume of 487,732 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of AMC Networks from $6.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Morgan Stanley boosted their target price 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. Weiss Ratings lowered shares of AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, AMC Networks has a consensus rating of “Reduce” and a consensus price target of $10.33.

AMC Networks Trading Up 2.4%

The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76. The stock has a market cap of $522.02 million, a price-to-earnings ratio of -15.41 and a beta of 1.35. The company has a fifty day simple moving average of $11.02 and a 200-day simple moving average of $9.26.

AMC Networks (NASDAQ:AMCX) last announced its 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 firm had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, research analysts forecast that AMC Networks Inc. will post 2.77 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Several large investors have recently added to or reduced their stakes in AMCX. Raymond James Financial Inc. acquired a new stake in shares of AMC Networks in the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its position in AMC Networks by 133.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after buying an additional 2,735 shares during the period. Advisory Services Network LLC purchased a new stake in AMC Networks in the 3rd quarter worth about $43,000. State of Wyoming purchased a new stake in AMC Networks in the 2nd quarter worth about $51,000. Finally, Kestra Advisory Services LLC acquired a new stake in AMC Networks during the 4th quarter worth about $63,000. 78.51% of the stock is owned by institutional investors and hedge funds.

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.