AMC Networks Inc. (NASDAQ:AMCX) CEO Joshua W. Sapan Sells 39,980 Shares of Stock

AMC Networks Inc. (NASDAQ:AMCX) CEO Joshua W. Sapan sold 39,980 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $51.73, for a total transaction of $2,068,165.40. Following the completion of the sale, the chief executive officer now directly owns 748,897 shares in the company, valued at $38,740,441.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

NASDAQ AMCX opened at $52.19 on Thursday. AMC Networks Inc. has a 12 month low of $20.03 and a 12 month high of $83.63. The company has a debt-to-equity ratio of 3.89, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market capitalization of $2.16 billion, a PE ratio of 20.71 and a beta of 1.35. The company’s 50 day simple moving average is $62.41 and its 200 day simple moving average is $40.32.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, February 25th. The company reported $2.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $2.24. AMC Networks had a net margin of 4.85% and a return on equity of 53.93%. The business had revenue of $780.28 million for the quarter, compared to analyst estimates of $703.56 million. During the same quarter last year, the business earned $1.69 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts anticipate that AMC Networks Inc. will post 6.86 earnings per share for the current fiscal year.

Several research firms recently issued reports on AMCX. TheStreet raised shares of AMC Networks from a “c” rating to a “b-” rating in a research report on Tuesday, December 15th. Royal Bank of Canada raised their price target on shares of AMC Networks from $33.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, March 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of AMC Networks from $30.00 to $32.00 in a report on Thursday, December 10th. Macquarie lowered shares of AMC Networks from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Thursday, January 28th. They noted that the move was a valuation call. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $52.00 price target (down previously from $63.00) on shares of AMC Networks in a report on Thursday, April 1st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.93.

Institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted its stake in AMC Networks by 27.6% in the 4th quarter. Comerica Bank now owns 31,597 shares of the company’s stock worth $1,560,000 after purchasing an additional 6,834 shares during the period. Kendall Capital Management boosted its stake in shares of AMC Networks by 6.8% during the 4th quarter. Kendall Capital Management now owns 33,190 shares of the company’s stock valued at $1,187,000 after buying an additional 2,115 shares during the period. 6 Meridian acquired a new stake in shares of AMC Networks during the 4th quarter valued at $275,000. Clear Harbor Asset Management LLC boosted its stake in shares of AMC Networks by 22.4% during the 4th quarter. Clear Harbor Asset Management LLC now owns 97,965 shares of the company’s stock valued at $3,504,000 after buying an additional 17,950 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of AMC Networks by 464.7% during the 4th quarter. Renaissance Technologies LLC now owns 461,900 shares of the company’s stock valued at $16,522,000 after buying an additional 380,100 shares during the period. 81.48% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other.

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