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

AMC Networks Inc. (NASDAQ:AMCXGet Free Report)’s stock price was down 6.9% during 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 traded 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, EVP James Gallagher sold 25,000 shares of the 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Kimberly Kelleher sold 10,941 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $17.22, for a total transaction of $188,404.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Gallagher sold 25,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was 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 in the company, valued at $25,780.86. The disclosure for this sale can be found here. Insiders sold a total of 55,348 shares of company stock worth $888,957 in the last quarter. Insiders own 25.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley dropped 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. TheStreet upgraded shares of AMC Networks from a “d+” rating to a “c-” rating in a research report on Tuesday, February 13th. Finally, StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.75.

Get Our Latest Report on AMCX

AMC Networks Price Performance

The firm’s fifty day moving average price is $12.77 and its 200-day moving average price is $14.94. 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 stock has a market cap of $735.29 million, a P/E ratio of 4.73 and a beta of 1.22.

AMC Networks (NASDAQ:AMCXGet Free Report) last announced its quarterly earnings results on Friday, May 10th. The company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). The firm had revenue of $596.50 million during 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%. AMC Networks’s revenue was down 16.9% on a year-over-year basis. During the same period last year, the business earned $2.62 EPS. Analysts forecast that AMC Networks Inc. will post 4.93 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Several institutional investors and hedge funds have recently bought and sold shares of AMCX. Signaturefd LLC boosted its holdings in AMC Networks by 206.2% in the third quarter. Signaturefd LLC now owns 2,364 shares of the company’s stock valued at $28,000 after acquiring an additional 1,592 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of AMC Networks in the 4th quarter worth about $33,000. Public Employees Retirement System of Ohio boosted its stake in shares of AMC Networks by 20.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock valued at $52,000 after purchasing an additional 737 shares in the last quarter. EntryPoint Capital LLC bought a new position in AMC Networks in the first quarter worth about $60,000. Finally, EMC Capital Management lifted its holdings in AMC Networks by 270.1% in the third quarter. EMC Capital Management now owns 6,292 shares of the company’s stock worth $74,000 after buying an additional 4,592 shares during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

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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