AMC Networks Inc. (NASDAQ:AMCX) Short Interest Update

AMC Networks Inc. (NASDAQ:AMCX) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 5,770,000 shares, a decline of 21.7% from the October 31st total of 7,370,000 shares. Approximately 20.1% of the shares of the company are short sold. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is presently 4.4 days.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently bought and sold shares of AMCX. Price T Rowe Associates Inc. MD raised its position in shares of AMC Networks by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company’s stock valued at $520,000 after buying an additional 1,434 shares in the last quarter. Virtu Financial LLC bought a new stake in AMC Networks during the first quarter worth about $138,000. Linden Thomas Advisory Services LLC boosted its holdings in shares of AMC Networks by 10.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 35,841 shares of the company’s stock worth $346,000 after purchasing an additional 3,322 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of AMC Networks by 234.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after purchasing an additional 195,444 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of AMC Networks during the 2nd quarter valued at about $125,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Morgan Stanley cut their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Finally, Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AMC Networks has an average rating of “Hold” and an average target price of $8.50.

AMC Networks Stock Down 0.5 %

AMCX opened at $9.42 on Friday. The firm has a market capitalization of $415.61 million, a P/E ratio of 15.03 and a beta of 1.29. AMC Networks has a one year low of $7.08 and a one year high of $20.97. The company has a fifty day moving average price of $8.45 and a 200-day moving average price of $10.54. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. During the same period in the previous year, the business earned $1.85 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Equities research analysts expect that AMC Networks will post 4.09 earnings per share for the current fiscal year.

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.