AMC Networks Inc. (NASDAQ:AMCX) Short Interest Down 32.5% in September

AMC Networks Inc. (NASDAQ:AMCX) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 5.9 days. Approximately 24.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

AMC Networks Trading Up 0.4 %

Shares of AMCX stock opened at $7.98 on Friday. AMC Networks has a 52-week low of $7.08 and a 52-week high of $20.97. The company has a 50-day simple moving average of $9.10 and a two-hundred day simple moving average of $11.22. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $347.62 million, a price-to-earnings ratio of 2.24 and a beta of 1.28.

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

Institutional Trading of AMC Networks

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in AMC Networks by 119.2% in 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 last quarter. Innealta Capital LLC purchased a new position in shares of AMC Networks in the second quarter valued at $48,000. EntryPoint Capital LLC purchased a new position in shares of AMC Networks in the first quarter valued at $60,000. EMC Capital Management raised its stake in shares of AMC Networks by 23.8% during the 1st quarter. EMC Capital Management now owns 7,792 shares of the company’s stock valued at $95,000 after purchasing an additional 1,500 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in AMC Networks by 75.7% during the 2nd 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 own 78.51% of the company’s stock.

AMC Networks Company Profile

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.