AMC Networks (NASDAQ:AMCX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

AMC Networks Inc. (NASDAQ:AMCX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.66 and traded as high as $8.40. AMC Networks shares last traded at $7.83, with a volume of 270,999 shares traded.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an “underweight” rating on shares of AMC Networks in a research report on Sunday, August 10th. One research analyst has rated the stock with a Strong Buy rating and four have given a Sell rating to the stock. According to data from MarketBeat, AMC Networks has an average rating of “Reduce” and an average target price of $5.38.

AMC Networks Trading Down 5.3%

The stock has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $6.66. The firm has a market capitalization of $339.70 million, a P/E ratio of -1.79 and a beta of 1.47. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 2.11.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, August 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. The business had revenue of $600.02 million during the quarter, compared to the consensus estimate of $582.99 million. AMC Networks had a positive return on equity of 15.73% and a negative net margin of 7.42%.The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. AMC Networks has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that AMC Networks Inc. will post 2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

A number of large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in shares of AMC Networks by 33.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 110,687 shares of the company’s stock valued at $694,000 after purchasing an additional 27,466 shares during the period. State of Wyoming bought a new stake in shares of AMC Networks during the 2nd quarter valued at about $51,000. Man Group plc grew its stake in shares of AMC Networks by 6.7% during the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after purchasing an additional 1,735 shares during the period. Gallagher Fiduciary Advisors LLC lifted its position in shares of AMC Networks by 105.5% during the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 38,355 shares of the company’s stock valued at $240,000 after buying an additional 19,695 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of AMC Networks during the 2nd quarter valued at about $475,000. 78.51% of the stock is currently owned by institutional investors.

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.