AMC Networks (NASDAQ:AMCX) Sets New 1-Year High – Here’s What Happened

AMC Networks Inc. (NASDAQ:AMCX) shares hit a new 52-week high during trading on Monday . The company traded as high as $12.56 and last traded at $12.5550, with a volume of 20836 shares. The stock had previously closed at $12.39.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMCX shares. Wells Fargo & Company raised their target price on AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings downgraded AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. UBS Group upped their price objective on AMC Networks from $6.00 to $10.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Morgan Stanley raised their price objective on shares of AMC Networks from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. Finally, Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, AMC Networks currently has an average rating of “Reduce” and an average price target of $10.33.

AMC Networks Stock Performance

The business’s 50-day simple moving average is $10.59 and its two-hundred day simple moving average is $9.02. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The firm has a market cap of $515.87 million, a price-to-earnings ratio of -15.21 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $555.74 million. During the same quarter last year, the business earned $0.69 earnings per share. AMC Networks’s revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts expect that AMC Networks Inc. will post 2.77 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its position in shares of AMC Networks by 158.3% in the second quarter. California State Teachers Retirement System now owns 4,311 shares of the company’s stock valued at $432,000 after buying an additional 2,642 shares in the last quarter. Lone Peak Global Investors LLC lifted its position in shares of AMC Networks by 1.9% during the 2nd quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company’s stock valued at $447,000 after buying an additional 833 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of AMC Networks during the 1st quarter valued at approximately $1,060,000. Quantinno Capital Management LP grew its stake in AMC Networks by 8.4% in the 1st quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock valued at $379,000 after acquiring an additional 4,325 shares during the period. Finally, Gabelli Funds LLC grew its stake in AMC Networks by 2.4% in the 1st quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after acquiring an additional 3,000 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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.