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

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

AMC Networks Stock Down 0.4%

AMCX stock opened at $12.14 on Thursday. The firm’s 50-day moving average is $11.50 and its two-hundred day moving average is $9.60. The company has a market capitalization of $500.77 million, a price-to-earnings ratio of -14.80 and a beta of 1.35. AMC Networks Inc. has a 52 week low of $6.47 and a 52 week 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:AMCX) last announced its earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate 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 in the previous year, the firm earned $0.69 EPS. AMC Networks’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts forecast that AMC Networks Inc. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMCX. Zacks Research cut shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 10th. Weiss Ratings cut AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. UBS Group increased their price objective on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Wells Fargo & Company upped their target price on AMC Networks from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Morgan Stanley increased their price target on AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, AMC Networks presently has a consensus rating of “Strong Sell” and a consensus target price of $10.33.

Hedge Funds Weigh In On AMC Networks

A number of large investors have recently made changes to their positions in AMCX. Allspring Global Investments Holdings LLC grew its position in AMC Networks by 35.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after purchasing an additional 349,373 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of AMC Networks in the first quarter valued at about $1,060,000. Ritholtz Wealth Management bought a new stake in shares of AMC Networks in the first quarter valued at about $301,000. WINTON GROUP Ltd increased its stake in AMC Networks by 213.0% during the fourth quarter. WINTON GROUP Ltd now owns 56,925 shares of the company’s stock valued at $542,000 after acquiring an additional 38,739 shares during the period. Finally, FourThought Financial Partners LLC bought a new position in AMC Networks during the fourth quarter valued at about $367,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

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.