Michael Sherin III Sells 10,648 Shares of AMC Networks (NASDAQ:AMCX) Stock

AMC Networks Inc. (NASDAQ:AMCXGet Free Report) CAO Michael Sherin III sold 10,648 shares of AMC Networks stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.35, for a total value of $131,502.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AMC Networks Price Performance

AMCX stock opened at $11.77 on Friday. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $9.63. The firm has a market capitalization of $485.51 million, a P/E ratio of -14.35 and a beta of 1.35. AMC Networks Inc. has a 12 month low of $6.47 and a 12 month high of $12.93. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76.

AMC Networks (NASDAQ:AMCXGet Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $555.74 million. During the same period last year, the company posted $0.69 EPS. The business’s revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts predict that AMC Networks Inc. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMCX has been the subject of a number of research analyst reports. Zacks Research downgraded AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 10th. UBS Group raised their target price on shares of AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Morgan Stanley lifted their target price on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. Weiss Ratings cut 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 increased their price target 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. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and an average price target of $10.33.

Check Out Our Latest Analysis on AMC Networks

Institutional Trading of AMC Networks

Several hedge funds have recently added to or reduced their stakes in AMCX. Allspring Global Investments Holdings LLC increased its holdings in shares of AMC Networks by 35.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after buying an additional 349,373 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in AMC Networks during the 1st quarter valued at about $1,060,000. Meeder Asset Management Inc. boosted its holdings in AMC Networks by 70.2% during the 1st quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company’s stock valued at $126,000 after acquiring an additional 7,643 shares during the period. Range Financial Group LLC grew its position in AMC Networks by 14.5% during the 1st quarter. Range Financial Group LLC now owns 31,473 shares of the company’s stock worth $214,000 after acquiring an additional 3,981 shares during the last quarter. Finally, Money Concepts Capital Corp grew its position in AMC Networks by 13.7% during the 1st quarter. Money Concepts Capital Corp now owns 65,109 shares of the company’s stock worth $442,000 after acquiring an additional 7,846 shares during the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Company Profile

(Get Free Report)

AMC Networks Inc (NASDAQ: AMCX) is an entertainment company that develops, produces, and distributes television and streaming content. Its portfolio includes the AMC, BBC America, IFC, SundanceTV, and WE tv networks, which feature scripted and unscripted series, films, documentaries, and other original programming.

The company also operates a range of direct-to-consumer streaming services, including AMC+, Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE. These platforms offer original series, movies, genre-focused programming, and content from AMC Networks’ television brands and production businesses.

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