Key Points
- Michael Sherin III sold 5,963 shares of AMC Networks on March 10 at an average price of $7.96, reducing his holding by 35.90% to 10,648 shares (worth about $84,758).
- AMC reported a quarterly EPS beat of $0.64 vs. $0.50 expected with revenue of $594.8M (down 0.8% YoY), and analysts project ~2.62 EPS for the year.
- The stock traded at $7.44 with a 12-month range of $5.41–$10.27, a market cap of $317.8M and a P/E of 5.43, while analyst coverage is negative (average rating: “Strong Sell”, average price target $7.00) and institutional ownership is ~78.5%.
AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) CAO Michael Sherin III sold 5,963 shares of AMC Networks stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.96, for a total value of $47,465.48. Following the sale, the chief accounting officer directly owned 10,648 shares in the company, valued at $84,758.08. This trade represents a 35.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
AMC Networks Price Performance
AMCX stock traded down $0.19 during midday trading on Thursday, hitting $7.44. The company's stock had a trading volume of 73,302 shares, compared to its average volume of 454,575. AMC Networks Inc. has a 12 month low of $5.41 and a 12 month high of $10.27. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $317.76 million, a price-to-earnings ratio of 5.43 and a beta of 1.06. The company has a 50 day moving average of $8.09 and a two-hundred day moving average of $8.19.
AMC Networks (NASDAQ:AMCX - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.14. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. The firm had revenue of $594.80 million for the quarter, compared to analysts' expectations of $581.83 million. During the same quarter last year, the business posted $0.64 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts expect that AMC Networks Inc. will post 2.62 EPS for the current year.
Institutional Investors Weigh In On AMC Networks
Several large investors have recently bought and sold shares of AMCX. Allspring Global Investments Holdings LLC grew its stake in shares of AMC Networks by 33.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 791,874 shares of the company's stock worth $6,549,000 after buying an additional 199,186 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of AMC Networks by 9.9% during the 2nd quarter. Acadian Asset Management LLC now owns 365,819 shares of the company's stock valued at $2,292,000 after buying an additional 32,825 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of AMC Networks in the 3rd quarter valued at about $995,000. Atria Investments Inc grew its position in 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 acquiring an additional 19,216 shares in the last quarter. Finally, American Century Companies Inc. grew its position in AMC Networks by 11.5% in the second quarter. American Century Companies Inc. now owns 995,837 shares of the company's stock worth $6,244,000 after acquiring an additional 102,346 shares in the last quarter. Institutional investors own 78.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on AMCX. Seaport Research Partners downgraded shares of AMC Networks from a "strong-buy" rating to a "hold" rating in a report on Sunday, December 14th. Morgan Stanley raised their price objective on AMC Networks from $5.50 to $6.00 and gave the company an "underweight" rating in a research report on Thursday, December 18th. Zacks Research raised AMC Networks from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of AMC Networks in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their price target on AMC Networks from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, AMC Networks presently has an average rating of "Strong Sell" and an average price target of $7.00.
Get Our Latest Report on AMCX
About AMC Networks
(
Get Free Report)
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.
Further Reading
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