Michael Sherin III Sells 5,963 Shares of AMC Networks (NASDAQ:AMCX) Stock

AMC Networks Inc. (NASDAQ:AMCX) CAO Michael Sherin III sold 5,963 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the transaction, the chief accounting officer owned 10,648 shares in the company, valued at approximately $84,758.08. This trade represents a 35.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AMC Networks Price Performance

Shares of NASDAQ:AMCX traded down $0.07 during trading on Friday, reaching $7.37. 21,877 shares of the company traded hands, compared to its average volume of 455,457. The firm has a market capitalization of $314.77 million, a PE ratio of 5.38 and a beta of 1.06. AMC Networks Inc. has a 52 week low of $5.41 and a 52 week 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 company’s 50 day moving average is $8.05 and its two-hundred day moving average is $8.19.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.14. AMC Networks had a return on equity of 11.32% and a net margin of 3.87%.The company 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 earned $0.64 earnings per share. AMC Networks’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts predict that AMC Networks Inc. will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Large investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of AMC Networks by 13.8% in the fourth quarter. CWM LLC now owns 11,858 shares of the company’s stock valued at $113,000 after purchasing an additional 1,437 shares during the period. Cerity Partners LLC grew its position in AMC Networks by 14.1% during the fourth quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock worth $113,000 after buying an additional 1,473 shares in the last quarter. Federated Hermes Inc. increased its position in shares of AMC Networks by 6.8% in the fourth quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock worth $252,000 after purchasing an additional 1,680 shares during the last quarter. Man Group plc lifted its position in AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock worth $173,000 after buying an additional 1,735 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of AMC Networks by 18.2% in the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after purchasing an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Wall Street Analyst Weigh In

AMCX has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research report on Wednesday, January 21st. Zacks Research upgraded shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Morgan Stanley upped their target price on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, December 18th. Wells Fargo & Company raised their price target on shares of AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Finally, Seaport Research Partners downgraded AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $7.00.

About AMC Networks

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.