AMC Networks (NASDAQ:AMCX) Stock Price Down 7.1% After Insider Selling

AMC Networks Inc. (NASDAQ:AMCX) fell 7.1% on Thursday following insider selling activity. The company traded as low as $16.61 and last traded at $16.65. 330,958 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 645,612 shares. The stock had previously closed at $17.92.

Specifically, EVP James Gallagher sold 25,000 shares of AMC Networks stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the transaction, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at $25,780.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Patrick O’connell sold 6,459 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $16.32, for a total value of $105,410.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Gallagher sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.54, for a total transaction of $388,500.00. Following the completion of the sale, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at approximately $25,780.86. The disclosure for this sale can be found here. Insiders sold a total of 44,407 shares of company stock valued at $700,553 over the last ninety days. 25.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMCX. TheStreet raised shares of AMC Networks from a “d+” rating to a “c-” rating in a research report on Tuesday, February 13th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Morgan Stanley reduced their target price on shares of AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Monday, February 12th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.75.

AMC Networks Price Performance

The company’s 50-day moving average is $12.39 and its two-hundred day moving average is $14.85. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $727.89 million, a P/E ratio of 4.72 and a beta of 1.22.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 10th. The company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.63). The firm had revenue of $596.50 million for the quarter, compared to the consensus estimate of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.62 EPS. Sell-side analysts anticipate that AMC Networks Inc. will post 4.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMCX. RWWM Inc. raised its stake in AMC Networks by 193.7% during the fourth quarter. RWWM Inc. now owns 515,432 shares of the company’s stock worth $9,682,000 after acquiring an additional 339,912 shares in the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of AMC Networks in the third quarter valued at approximately $3,957,000. Charles Schwab Investment Management Inc. increased its stake in shares of AMC Networks by 29.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,374,249 shares of the company’s stock valued at $16,189,000 after buying an additional 314,486 shares during the period. Empowered Funds LLC acquired a new position in shares of AMC Networks in the first quarter valued at approximately $1,877,000. Finally, Algert Global LLC increased its stake in shares of AMC Networks by 29.4% in the third quarter. Algert Global LLC now owns 242,239 shares of the company’s stock valued at $2,854,000 after buying an additional 55,070 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.