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

AMC Networks Inc. (NASDAQ:AMCXGet Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 4,190,000 shares, a growth of 9.4% from the May 15th total of 3,830,000 shares. Based on an average daily volume of 769,400 shares, the days-to-cover ratio is currently 5.4 days. Currently, 13.4% of the company’s shares are short sold.

Insider Buying and Selling at AMC Networks

In other news, CAO Michael J. Sherin III sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $15.61, for a total transaction of $46,830.00. Following the transaction, the chief accounting officer now directly owns 4,948 shares of the company’s stock, valued at $77,238.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Patrick O’connell sold 5,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $16.02, for a total value of $80,100.00. Following the sale, the chief financial officer now directly owns 6,459 shares of the company’s stock, valued at $103,473.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Sherin III sold 3,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.61, for a total value of $46,830.00. Following the completion of the sale, the chief accounting officer now directly owns 4,948 shares in the company, valued at $77,238.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,348 shares of company stock worth $888,957. 25.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of AMC Networks during the fourth quarter valued at $33,000. Nisa Investment Advisors LLC lifted its holdings in shares of AMC Networks by 98.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,336 shares of the company’s stock valued at $81,000 after purchasing an additional 2,146 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of AMC Networks by 20.2% during the third quarter. Public Employees Retirement System of Ohio now owns 4,394 shares of the company’s stock valued at $52,000 after purchasing an additional 737 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of AMC Networks during the first quarter valued at $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AMC Networks by 94.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the company’s stock valued at $114,000 after purchasing an additional 2,959 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Trading Down 3.7 %

NASDAQ AMCX opened at $9.82 on Wednesday. AMC Networks has a 12 month low of $9.46 and a 12 month high of $20.97. The stock has a market cap of $427.54 million, a P/E ratio of 2.75 and a beta of 1.35. The stock’s fifty day moving average price is $13.94 and its 200-day moving average price is $15.02. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 2.06.

AMC Networks (NASDAQ:AMCXGet Free Report) last released its earnings results on Friday, May 10th. The company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.63). The company had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $601.74 million. AMC Networks had a return on equity of 23.57% and a net margin of 6.09%. The company’s revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.62 earnings per share. As a group, equities analysts forecast that AMC Networks will post 4.93 EPS for the current fiscal year.

About AMC Networks

(Get Free Report)

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.

Further Reading

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