AMC Networks Inc (NASDAQ: AMCX) stock jumped 8.93% on Friday to $15.61 against a previous-day closing price of $14.33. With 0.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.34 million shares. During the session, the Entertainment company that operates in wider Communication Services sector, reached to the highest price of $15.71 whereas the lowest price it dropped to was $14.54. The 52-week range on AMCX shows that it touched its highest point at $27.46 and its lowest point at $9.96 during that stretch. It currently has a 1-year price target of $14.50. Beta for the stock currently stands at 1.21.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AMCX was up-trending over the past week, with a rise of 11.90%, but this was up by 22.05% over a month. Three-month performance surged to 37.05% while six-month performance rose 16.67%. The stock lost -23.85% in the past year, while it has lost -0.38% so far this year. A look at the trailing 12-month EPS for AMCX yields -0.71 with Next year EPS estimates of 6.48. For the next quarter, that number is 0.86. This implies an EPS growth rate of -21.12% for this year and -10.82% for next year. EPS is expected to decline by -12.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -52.50%.
Float and Shares Shorts:
At present, 31.52 million AMCX shares are outstanding with a float of 30.27 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.71 million, which was 3.93% higher than short shares on Sep 28, 2023. In addition to Ms. Kristin Aigner Dolan as the firm’s Chief Executive Officer, Mr. Patrick O’Connell serves as its Executive VP & CFO.
Through their ownership of 88.74% of AMCX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.32% of AMCX, in contrast to 32.72% held by mutual funds. Shares owned by individuals account for 204.97%. As the largest shareholder in AMCX with 13.82% of the stake, BlackRock Fund Advisors holds 4,426,492 shares worth 4,426,492. A second-largest stockholder of AMCX, The Vanguard Group, Inc., holds 3,408,845 shares, controlling over 10.65% of the firm’s shares. Charles Schwab Investment Managem is the third largest shareholder in AMCX, holding 1,374,249 shares or 4.29% stake. With a 6.42% stake in AMCX, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,054,769 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.87% of AMCX stock, is the second-largest Mutual Fund holder. It holds 918,757 shares valued at 10.84 million. Schwab Fundamental US Small Compa holds 2.65% of the stake in AMCX, owning 847,688 shares worth 10.0 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AMCX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AMCX analysts setting a high price target of $20.00 and a low target of $12.00, the average target price over the next 12 months is $14.50. Based on these targets, AMCX could surge 28.12% to reach the target high and fall by -23.13% to reach the target low. Reaching the average price target will result in a decline of -7.11% from current levels.
Summary of Insider Activity:
Insiders traded AMCX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 121,191 while 80,625 shares were sold.