Key Points
- AMC Networks CAO Michael Sherin III sold 10,648 shares at an average price of $12.35, for total proceeds of approximately $131,503.
- AMC Networks reported quarterly EPS of negative $0.28, missing the consensus estimate of negative $0.12, while revenue fell 8.8% year over year to $547.5 million.
- Analysts remain bearish, with a consensus rating of “Strong Sell” and an average price target of $10.33; institutional investors own 78.51% of the company.
AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) CAO Michael Sherin III sold 10,648 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.35, for a total transaction of $131,502.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
AMC Networks Stock Performance
NASDAQ:AMCX opened at $12.14 on Thursday. The firm has a market capitalization of $500.77 million, a PE ratio of -14.80 and a beta of 1.35. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. AMC Networks Inc. has a 12-month low of $6.47 and a 12-month high of $12.93. The firm has a 50-day moving average price of $11.50 and a 200 day moving average price of $9.60.
AMC Networks (NASDAQ:AMCX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company's revenue for the quarter was down 8.8% on a year-over-year basis. Research analysts anticipate that AMC Networks Inc. will post 2.42 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AMC Networks
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in AMC Networks in the second quarter valued at approximately $33,000. AXQ Capital LP acquired a new position in shares of AMC Networks during the 4th quarter worth approximately $118,000. Meeder Asset Management Inc. increased its holdings in shares of AMC Networks by 70.2% during the 1st quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company's stock worth $126,000 after acquiring an additional 7,643 shares during the last quarter. First Trust Advisors LP raised its stake in AMC Networks by 18.5% in the 1st quarter. First Trust Advisors LP now owns 19,720 shares of the company's stock valued at $134,000 after acquiring an additional 3,074 shares during the period. Finally, Truist Financial Corp bought a new stake in AMC Networks in the 4th quarter valued at $156,000. Institutional investors own 78.51% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. UBS Group raised their price objective on AMC Networks from $6.00 to $10.00 and gave the company a "sell" rating in a report on Wednesday, August 12th. Morgan Stanley upped their target price on AMC Networks from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. Zacks Research downgraded AMC Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 10th. Finally, Weiss Ratings lowered AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Sell" and an average target price of $10.33.
Check Out Our Latest Research Report on AMC Networks
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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