AMC Networks Inc (-1, AMCX US, December 26th)
Matthew Blank (Director since 2022; Interim CEO from Sept. 2021 to Sept. 2022) sold 50,000 shares on December 22nd, reducing his stock holdings to zero. While he still likely has some options and RSU holdings, they appear modest. Blank was interim CEO for a year and likely has extensive knowledge of the company’s prospects making this aggressive % sale even more concerning.
We ranked this stock -1 on November 28th based on sales from Kimberly Kelleher (Chief Commercial Officer, joined 2019) and James Gallagher (General Counsel since 2011) around $15.50 per share. The stock has moved higher and Gallagher has made an additional sale, this time even more aggressive.
We are renewing our -1 rank.
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