Short Interest in AMC Networks Inc. (NASDAQ:AMCX) Decreases By 21.7%

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

AMC Networks Stock Down 0.5 %

NASDAQ AMCX opened at $9.42 on Friday. AMC Networks has a 1 year low of $7.08 and a 1 year high of $20.97. The stock has a market capitalization of $415.61 million, a PE ratio of 15.03 and a beta of 1.29. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.32. The business’s 50-day moving average is $8.45 and its 200 day moving average is $10.54.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.85 EPS. Sell-side analysts forecast that AMC Networks will post 4.09 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in shares of AMC Networks during the 2nd quarter valued at about $4,456,000. Dimensional Fund Advisors LP boosted its position in AMC Networks by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after acquiring an additional 250,738 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 worth $2,693,000 after acquiring an additional 195,444 shares during the period. Koss Olinger Consulting LLC bought a new position in shares of AMC Networks in the 2nd quarter worth approximately $1,569,000. Finally, Dana Investment Advisors Inc. lifted its stake in shares of AMC Networks by 40.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after purchasing an additional 154,927 shares during the period. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.