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

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On AMC Networks

Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in AMC Networks by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the period. Geode Capital Management LLC grew its stake in shares of AMC Networks by 4.2% in the third quarter. Geode Capital Management LLC now owns 775,596 shares of the company’s stock valued at $6,741,000 after buying an additional 31,378 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of AMC Networks by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock valued at $6,836,000 after buying an additional 45,266 shares during the period. Barclays PLC lifted its stake in AMC Networks by 8.5% during the 3rd quarter. Barclays PLC now owns 554,837 shares of the company’s stock worth $4,821,000 after acquiring an additional 43,623 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in AMC Networks by 40.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after acquiring an additional 154,927 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Price Performance

NASDAQ:AMCX opened at $9.42 on Monday. The company has a market capitalization of $415.61 million, a P/E ratio of 14.95 and a beta of 1.29. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. AMC Networks has a 52 week low of $7.08 and a 52 week high of $20.97. The stock’s fifty day moving average is $8.47 and its two-hundred day moving average is $10.46.

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

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.