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

AMC Networks Inc. (NASDAQ:AMCX) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,710,000 shares, a decline of 10.9% from the October 15th total of 1,920,000 shares. Based on an average daily trading volume, of 347,800 shares, the days-to-cover ratio is presently 4.9 days. Approximately 5.7% of the company’s shares are short sold.

AMC Networks Stock Performance

Shares of NASDAQ AMCX traded down $0.08 during trading on Wednesday, reaching $14.60. 13,644 shares of the stock traded hands, compared to its average volume of 421,825. AMC Networks has a 52-week low of $9.96 and a 52-week high of $27.46. The company has a 50-day moving average of $12.06 and a 200-day moving average of $12.43. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 2.16.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Friday, November 3rd. The company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.31 by $0.54. The company had revenue of $636.90 million during the quarter, compared to the consensus estimate of $655.99 million. AMC Networks had a negative net margin of 0.91% and a positive return on equity of 40.10%. AMC Networks’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. Research analysts anticipate that AMC Networks will post 7.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of AMC Networks from $15.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, July 31st. TheStreet lowered AMC Networks from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. JPMorgan Chase & Co. cut their target price on AMC Networks from $18.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 18th. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 target price on shares of AMC Networks in a report on Monday, August 7th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of AMC Networks in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, AMC Networks currently has an average rating of “Hold” and an average target price of $12.00.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of AMC Networks by 26.6% in the 1st quarter. American Century Companies Inc. now owns 9,462 shares of the company’s stock worth $384,000 after purchasing an additional 1,987 shares in the last quarter. PNC Financial Services Group Inc. grew its position in AMC Networks by 18.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock valued at $195,000 after acquiring an additional 751 shares during the last quarter. Bank of Montreal Can raised its stake in shares of AMC Networks by 5.0% during the first quarter. Bank of Montreal Can now owns 9,179 shares of the company’s stock worth $393,000 after acquiring an additional 437 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of AMC Networks by 54.0% in the 1st quarter. MetLife Investment Management LLC now owns 15,600 shares of the company’s stock valued at $634,000 after purchasing an additional 5,467 shares in the last quarter. Finally, Rhumbline Advisers raised its position in AMC Networks by 4.6% in the 1st quarter. Rhumbline Advisers now owns 90,044 shares of the company’s stock worth $3,658,000 after purchasing an additional 3,996 shares during the period. 59.77% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Company Profile

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