Amc Networks Inc (NASDAQ:AMCX) Short Interest Update

Amc Networks Inc (NASDAQ:AMCX) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 9,821,000 shares, a drop of 6.1% from the May 15th total of 10,461,800 shares. Approximately 22.9% of the shares of the company are short sold. Based on an average daily trading volume, of 594,400 shares, the short-interest ratio is presently 16.5 days.

In other news, CFO Sean S. Sullivan sold 27,232 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $54.61, for a total transaction of $1,487,139.52. Following the sale, the chief financial officer now directly owns 40,090 shares in the company, valued at approximately $2,189,314.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Gallagher sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $54.61, for a total value of $273,050.00. Following the sale, the executive vice president now owns 15,689 shares in the company, valued at $856,776.29. The disclosure for this sale can be found here. Company insiders own 20.97% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMCX. BlackRock Inc. boosted its stake in shares of Amc Networks by 15.9% during the 1st quarter. BlackRock Inc. now owns 6,028,978 shares of the company’s stock worth $342,203,000 after acquiring an additional 825,811 shares in the last quarter. AJO LP bought a new stake in shares of Amc Networks during the 1st quarter worth $41,625,000. Norges Bank bought a new stake in shares of Amc Networks during the 4th quarter worth $34,521,000. JPMorgan Chase & Co. boosted its stake in shares of Amc Networks by 205.7% during the 1st quarter. JPMorgan Chase & Co. now owns 723,763 shares of the company’s stock worth $41,081,000 after acquiring an additional 487,042 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Amc Networks by 252.2% during the 4th quarter. APG Asset Management N.V. now owns 421,600 shares of the company’s stock worth $20,240,000 after acquiring an additional 301,900 shares in the last quarter. 93.68% of the stock is owned by institutional investors and hedge funds.

NASDAQ AMCX traded down $0.30 on Friday, reaching $54.30. 302,524 shares of the stock traded hands, compared to its average volume of 366,907. The stock’s fifty day moving average price is $55.18. The company has a debt-to-equity ratio of 6.82, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $3.05 billion, a P/E ratio of 6.25, a price-to-earnings-growth ratio of 0.72 and a beta of 0.85. Amc Networks has a 12 month low of $51.04 and a 12 month high of $68.42.

Amc Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.39. The firm had revenue of $784.22 million during the quarter, compared to analyst estimates of $775.37 million. Amc Networks had a return on equity of 152.19% and a net margin of 14.35%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $2.65 EPS. Research analysts predict that Amc Networks will post 8.6 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on AMCX. Gabelli reiterated a “buy” rating on shares of Amc Networks in a research report on Tuesday, June 11th. BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.20.

Amc Networks Company Profile

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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