AMC Networks Sees Large Increase in Short Interest (AMCX)
Shares of AMC Networks (NASDAQ:AMCX) saw a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 3,434,727 shares, an increase of 37.0% from the May 30th total of 2,506,998 shares, StockRatingsNetwork.com reports. Currently, 5.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,100,599 shares, the short-interest ratio is currently 3.1 days.
A number of research firms have recently commented on AMCX. Analysts at MoffettNathanson downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $67.00 price target on the stock, down previously from $72.00. Separately, analysts at Hanson downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $67.00 price target on the stock, down previously from $72.00. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of AMC Networks in a research note on Friday, May 16th. They now have a $70.00 price target on the stock, down previously from $83.00. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $76.81.
AMC Networks (NASDAQ:AMCX) opened at 62.18 on Wednesday. AMC Networks has a one year low of $53.99 and a one year high of $78.39. The stock’s 50-day moving average is $60. and its 200-day moving average is $66.73. The company has a market cap of $4.482 billion and a price-to-earnings ratio of 14.89.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, May 8th. The company reported $1.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.16 by $0.12. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.53 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 37.3% on a year-over-year basis. On average, analysts predict that AMC Networks will post $3.96 earnings per share for the current fiscal year.
AMC Networks Inc (NASDAQ:AMCX) is a holding company and conducts substantially all of its operations through its subsidiaries.
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