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Potential Price Increase for AMC Networks Inc (AMCX) After Recent Insider Activity

AMC Networks Inc’s recently made public that its Director Blank Matthew unloaded Company’s shares for reported $0.95 million on Dec 22 ’23. In the deal valued at $19.09 per share,50,000 shares were sold. As a result of this transaction, Blank Matthew now holds 0 shares worth roughly $0.0.

Then, Gallagher James sold 22,000 shares, generating $448,800 in total proceeds. Upon selling the shares at $20.40, the EVP and General Counsel now owns 6,867 shares.

Before that, Kelleher Kimberly sold 13,192 shares. AMC Networks Inc shares valued at $201,574 were divested by the Chief Commercial Officer at a price of $15.28 per share. As a result of the transaction, Kelleher Kimberly now holds 0 shares, worth roughly $0.0.

Seaport Research Partners downgraded its AMC Networks Inc [AMCX] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating. Morgan Stanley also remained covering AMCX and has decreased its forecast on June 06, 2023 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Deutsche Bank revised its rating on July 22, 2021. It rated AMCX as “a Sell” which previously was an “a Hold”.

Price Performance Review of AMCX

On Tuesday, AMC Networks Inc [NASDAQ:AMCX] saw its stock fall -2.84% to $10.62. Over the last five days, the stock has lost -8.21%. AMC Networks Inc shares have fallen nearly -43.48% since the year began. Nevertheless, the stocks have fallen -39.97% over the past one year. While a 52-week high of $20.97 was reached on 01/02/24, a 52-week low of $9.87 was recorded on 04/16/24. SMA at 50 days reached $11.88, while 200 days put it at $13.76. A total of 0.46 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For AMCX Stock

The 24-hour chart illustrates a support level at 10.45, which if violated will result in even more drops to 10.27. On the upside, there is a resistance level at 10.85. A further resistance level may holdings at 11.07. The Relative Strength Index (RSI) on the 14-day chart is 39.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.79%. Stochastics %K at 50.73% indicates the stock is a holding.

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