AMC Networks (NASDAQ:AMCX) Shares Down 6.9% on Insider Selling

AMC Networks Inc. (NASDAQ:AMCXGet Free Report)’s stock price dropped 6.9% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $15.82 and last traded at $15.89. Approximately 77,186 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 644,565 shares. The stock had previously closed at $17.06.

Specifically, CFO Patrick O’connell sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $16.02, for a total value of $80,100.00. Following the completion of the sale, the chief financial officer now directly owns 6,459 shares in the company, valued at approximately $103,473.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Patrick O’connell sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $16.02, for a total value of $80,100.00. Following the transaction, the chief financial officer now directly owns 6,459 shares in the company, valued at approximately $103,473.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Gallagher sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.54, for a total transaction of $388,500.00. Following the transaction, 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. In the last quarter, insiders sold 55,348 shares of company stock worth $888,957. 25.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. TheStreet raised AMC Networks from a “d+” rating to a “c-” rating in a research report on Tuesday, February 13th. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Morgan Stanley dropped their price objective on shares of AMC Networks from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Monday, February 12th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, AMC Networks currently has an average rating of “Hold” and an average price target of $11.75.

Get Our Latest Research Report on AMC Networks

AMC Networks Stock Performance

The stock has a market capitalization of $687.81 million, a P/E ratio of 4.52 and a beta of 1.22. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.06. The firm has a 50-day moving average of $12.71 and a 200 day moving average of $14.93.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of AMC Networks during the 1st quarter worth about $138,000. EMC Capital Management increased its holdings in shares of AMC Networks by 23.8% during the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after buying an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of AMC Networks by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company’s stock worth $520,000 after buying an additional 1,434 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of AMC Networks in the first quarter valued at approximately $60,000. Finally, Swiss National Bank boosted its holdings in shares of AMC Networks by 6.1% in the 1st quarter. Swiss National Bank now owns 57,000 shares of the company’s stock worth $691,000 after acquiring an additional 3,300 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

About AMC Networks

(Get Free Report)

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.

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