AMC Networks (NASDAQ:AMCX) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

AMC Networks Inc. (NASDAQ:AMCX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.13 and traded as high as $8.26. AMC Networks shares last traded at $8.17, with a volume of 613,162 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of AMC Networks from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Morgan Stanley upped their price objective on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, December 18th. Seaport Research Partners cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $7.00.

AMC Networks Trading Up 6.9%

The company’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $8.13. The firm has a market capitalization of $348.94 million, a PE ratio of 5.96 and a beta of 1.12. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 1.67.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.14. The firm had revenue of $594.80 million during the quarter, compared to the consensus estimate of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, sell-side analysts expect that AMC Networks Inc. will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position in shares of AMC Networks by 8.5% during the first quarter. Empowered Funds LLC now owns 200,273 shares of the company’s stock worth $1,378,000 after purchasing an additional 15,738 shares in the last quarter. CWM LLC boosted its stake in AMC Networks by 50.4% during the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after purchasing an additional 1,909 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of AMC Networks during the second quarter worth $26,000. Envestnet Asset Management Inc. raised its position in shares of AMC Networks by 17.4% in the second quarter. Envestnet Asset Management Inc. now owns 89,355 shares of the company’s stock valued at $560,000 after buying an additional 13,211 shares during the last quarter. Finally, Atria Investments Inc lifted its stake in shares of AMC Networks by 103.2% in the second quarter. Atria Investments Inc now owns 37,842 shares of the company’s stock worth $237,000 after buying an additional 19,216 shares in the last quarter. 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.