AMC Networks Inc. (NASDAQ:AMCX) Short Interest Down 21.7% in November

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. Approximately 20.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,310,000 shares, the short-interest ratio is presently 4.4 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMCX. Quarry LP raised its stake in AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after acquiring an additional 2,336 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of AMC Networks during the second quarter worth about $48,000. nVerses Capital LLC acquired a new stake in shares of AMC Networks during the third quarter worth about $55,000. Quantinno Capital Management LP acquired a new stake in shares of AMC Networks during the third quarter worth about $88,000. Finally, FORA Capital LLC purchased a new stake in shares of AMC Networks in the 3rd quarter valued at about $89,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Stock Down 0.5 %

Shares of NASDAQ AMCX opened at $9.42 on Monday. The business has a 50-day moving average of $8.47 and a two-hundred day moving average of $10.46. The company has a market capitalization of $415.61 million, a price-to-earnings ratio of 14.95 and a beta of 1.29. AMC Networks has a 1 year low of $7.08 and a 1 year high of $20.97. 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 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.29. The firm had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 earnings per share. On average, analysts forecast that AMC Networks will post 4.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMCX has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 12th. Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Two 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 company currently has a consensus rating of “Hold” and a consensus price target of $8.50.

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.