AMC Networks Coverage Dropped by Equity Researcher MoffettNathanson

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Currently trading at a fraction of its peak 3 years ago, the TV programmer gets abruptly dropped by research company

Lauren Cohan and Jeffrey Dean Morgan in ‘The Walking Dead: Dead City.’
(Image credit: Peter Kramer/AMC)

AMC Networks, which is trading at around 12% of its $82.81 peak share price back in November 2015, will no longer be covered by equity research company MofettNathanson. 

“We are discontinuing coverage of AMC Networks due to a reprioritization of research resources,” analyst Robert Fishman wrote in a brief investor note last week.

Unfortunately, not much has happened for AMC in the decade since groundbreaking AMC water-cooler show Mad Men was winding down, and hit zombie drama The Walking Dead was peaking and setting AMC up for a herd of zombie-themed spinoffs. 

As its linear channels fade to oblivion along with the rest of the pay TV ecosystem, AMC's direct-to-consumer streaming efforts — which include Acorn TV and AMC Plus — lost ground in 2023, collectively declining by 400,000 subscribers to 11.4 million users to end the year. 

For its part, MoffettNathanson provided little other explanation for why AMC is getting cut loose. Here’s Fishman's letter:

(Image credit: MoffettNathanson)
Daniel Frankel
Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!