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

AMC Networks Inc. (NASDAQ:AMCX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.50 and traded as high as $10.24. AMC Networks shares last traded at $10.07, with a volume of 276,483 shares traded.

Analyst Ratings Changes

Several research firms have issued reports on AMCX. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a research 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 equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, AMC Networks 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 stock has a market cap of $435.79 million, a PE ratio of 16.53 and a beta of 1.31. The business has a 50 day moving average price of $9.44 and a two-hundred day moving average price of $8.51.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). The firm had revenue of $542.13 million during the quarter, compared to analysts’ expectations of $540.67 million. AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, equities research analysts forecast that AMC Networks Inc. will post 1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in AMC Networks in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. boosted its holdings in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after acquiring an additional 2,735 shares in the last quarter. Advisory Services Network LLC bought a new stake in AMC Networks in the third quarter worth $43,000. State of Wyoming purchased a new stake in shares of AMC Networks in the second quarter worth $51,000. Finally, Kestra Advisory Services LLC purchased a new stake in AMC Networks during the 4th quarter valued at about $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.