AMC Networks (NASDAQ:AMCX) Stock Crosses Above 200 Day Moving Average – Should You Sell?

AMC Networks Inc. (NASDAQ:AMCX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.47 and traded as high as $9.41. AMC Networks shares last traded at $9.35, with a volume of 431,397 shares.

Wall Street Analysts Forecast Growth

AMCX has been the topic of several recent research reports. Morgan Stanley set a $7.00 target price on shares of AMC Networks in a research report on Thursday, April 30th. Weiss Ratings cut AMC Networks from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $8.50.

AMC Networks Stock Performance

The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75. The business has a 50-day moving average of $9.06 and a 200-day moving average of $8.48. The company has a market capitalization of $428.32 million, a P/E ratio of 16.25 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.14). The firm 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%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. On average, sell-side analysts anticipate that AMC Networks Inc. will post 1.82 EPS for the current year.

Institutional Trading of AMC Networks

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of AMC Networks in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 position in AMC Networks during the third quarter valued at approximately $43,000. State of Wyoming bought a new position in AMC Networks in the second quarter worth approximately $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in AMC Networks during the fourth quarter worth $63,000. Institutional investors own 78.51% of the company’s stock.

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.