AMC Networks Inc. (NASDAQ:AMCX) Short Interest Down 26.5% in October

AMC Networks Inc.  (NASDAQ:AMCX) Short Interest Down 26.5% in October

AMC Networks Inc. (NASDAQ:AMCX – Get Rating) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totaling 1,330,000 shares, a decline of 26.5% from the October 15th total of 1,810,000 shares. Based on an average daily volume of 405,000 shares, the short-interest ratio is currently 3.3 days. Approximately 4.8% of the company’s stock are short sold.

AMC Networks Trading Up 12.7%

Shares of AMCX stock opened at $21.70 on Friday. AMC Networks has a 52-week low of $17.45 and a 52-week high of $48.93. The stock has a market cap of $919.65 million, a price-to-earnings ratio of 3.28 and a beta of 1.16. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.88 and a current ratio of 1.77. The firm has a fifty day moving average of $21.98 and a 200-day moving average of $28.45.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds have recently made changes to their positions in AMCX. Ronald Blue Trust Inc. increased its position in shares of AMC Networks by 412.5% ​​during the 3rd quarter. Ronald Blue Trust Inc. now owns 902 shares of the company’s stock worth $26,000 after purchasing an additional 726 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AMC Networks in the 3rd quarter valued at approximately $28,000. Banque Cantonale Vaudoise raised its position in shares of AMC Networks by 78.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,826 shares of the company’s stock valued at $53,000 after acquiring an additional 804 shares during the period. Strs Ohio acquired a new stake in AMC Networks during the 1st quarter worth approximately $65,000. Finally, KBC Group NV acquired a new stake in AMC Networks during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 66.24% of the company’s stock.

Wall Street Analyst Weigh In

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Several research firms have commented on AMCX. StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of AMC Networks from $23.00 to $18.00 in a research report on Monday, November 7th. Wells Fargo & Company decreased their price objective on shares of AMC Networks from $27.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, October 4th. The Goldman Sachs Group decreased their price objective on shares of AMC Networks from $28.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, November 8th. Finally, Moffett Nathanson decreased their price objective on shares of AMC Networks to $30.00 in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.44.

AMC Networks Company Profile

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AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.

Further Reading

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