AMC Networks (NASDAQ:AMCX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of AMC Networks Inc. (NASDAQ:AMCX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.96 and traded as high as $12.15. AMC Networks shares last traded at $12.12, with a volume of 455,130 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMCX. Zacks Research raised AMC Networks from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, August 4th. UBS Group upped their target price on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Wells Fargo & Company raised their target price on AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley boosted their price target on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $10.33.

AMC Networks Stock Up 1.6%

The company has a market cap of $511.09 million, a P/E ratio of -15.11 and a beta of 1.33. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The firm has a fifty day moving average price of $10.54 and a 200 day moving average price of $8.99.

AMC Networks (NASDAQ:AMCX) last released its quarterly 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 negative net margin of 0.88% and a positive return on equity of 3.76%. The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $555.74 million. During the same period last year, the company earned $0.69 earnings per share. AMC Networks’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts forecast that AMC Networks Inc. will post 2.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMCX. Raymond James Financial Inc. bought a new position in shares of AMC Networks in the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after buying an additional 2,735 shares during the period. Advisory Services Network LLC bought a new position in AMC Networks in the third quarter valued at approximately $43,000. Kestra Advisory Services LLC bought a new position in AMC Networks in the fourth quarter valued at approximately $63,000. Finally, State of Wyoming acquired a new stake in AMC Networks during the 2nd quarter worth $51,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.