AMC Networks Inc. (NASDAQ:AMCX) Sees Significant Decline in Short Interest

AMC Networks Inc. (NASDAQ:AMCX) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 7,520,000 shares, a decline of 32.5% from the September 15th total of 11,140,000 shares. Approximately 24.0% of the shares of the stock are short sold. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 5.9 days.

AMC Networks Trading Up 0.4 %

Shares of AMC Networks stock traded up $0.03 during trading hours on Friday, hitting $7.98. The company’s stock had a trading volume of 586,604 shares, compared to its average volume of 1,086,836. The stock has a market cap of $347.62 million, a price-to-earnings ratio of 2.24 and a beta of 1.28. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. AMC Networks has a twelve month low of $7.08 and a twelve month high of $20.97. The firm has a fifty day moving average of $9.10 and a 200-day moving average of $11.23.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The company had revenue of $625.90 million for the quarter, compared to analysts’ expectations of $601.41 million. During the same period last year, the business earned $2.02 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. Research analysts forecast that AMC Networks will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

AMCX has been the subject of a number of recent research reports. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, AMC Networks has a consensus rating of “Hold” and a consensus target price of $11.00.

Institutional Trading of AMC Networks

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after buying an additional 2,336 shares during the period. Innealta Capital LLC purchased a new position in AMC Networks during the 2nd quarter valued at about $48,000. EntryPoint Capital LLC acquired a new position in AMC Networks in the 1st quarter valued at about $60,000. EMC Capital Management increased its stake in AMC Networks by 23.8% during the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after purchasing an additional 1,500 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of AMC Networks by 75.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company’s stock worth $106,000 after purchasing an additional 4,735 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

About AMC Networks

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