AMC Networks Inc. (NASDAQ:AMCX) Sees Significant Increase in Short Interest

AMC Networks Inc. (NASDAQ:AMCX) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,920,000 shares, a growth of 10.4% from the March 31st total of 3,550,000 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily volume of 665,300 shares, the days-to-cover ratio is currently 5.9 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in AMC Networks by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,492,814 shares of the company’s stock worth $41,145,000 after buying an additional 30,721 shares in the last quarter. Barclays PLC boosted its stake in shares of AMC Networks by 164.5% during the 3rd quarter. Barclays PLC now owns 41,906 shares of the company’s stock valued at $495,000 after buying an additional 26,061 shares during the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new stake in shares of AMC Networks during the third quarter worth approximately $3,957,000. Assenagon Asset Management S.A. grew its position in shares of AMC Networks by 152.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 39,895 shares of the company’s stock worth $750,000 after buying an additional 24,085 shares in the last quarter. Finally, RWWM Inc. bought a new stake in shares of AMC Networks in the third quarter worth $2,068,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Stock Up 0.9 %

Shares of AMC Networks stock opened at $10.93 on Tuesday. The company has a fifty day moving average price of $11.95 and a 200 day moving average price of $14.66. The stock has a market cap of $476.11 million, a price-to-earnings ratio of 2.23 and a beta of 1.21. AMC Networks has a twelve month low of $9.87 and a twelve month high of $20.97. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 2.14.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, February 9th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $678.80 million for the quarter, compared to the consensus estimate of $675.97 million. AMC Networks had a return on equity of 30.42% and a net margin of 7.95%. The company’s revenue was down 29.6% on a year-over-year basis. During the same period last year, the business posted $2.52 EPS. Equities research analysts forecast that AMC Networks will post 5.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMCX shares. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Morgan Stanley cut their price target on AMC Networks from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Monday, February 12th. Finally, TheStreet upgraded shares of AMC Networks from a “d+” rating to a “c-” rating in a report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, AMC Networks currently has a consensus rating of “Hold” and a consensus price target of $11.75.

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.