Company shares last traded at $50.88 impressively lower than the 50 day moving average of $56.68 and significantly below the 200 day moving average of $57.28. The 50 day moving average was down $-5.80 whereas the 200 day average was down by -11.17%. (NASDAQ:AMCX) shares saw heavy trading volume with 1,173K shares changing hands on Tuesday. Volume was up 30.22% over the stocks average daily volume.
Investors are more bearish on shares of the company recently considering the increase in short interest. The company recorded a rise in short interest between September 29, 2017 and October 13, 2017 of 4.58%. Short interest increased 289,932 over that period. Days to cover decreased -5.0 to 9.0 and the percentage of shorted shares is 0.10% as of October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (AMCX). Nationwide Fund Advisors cut its stake by shedding 18,662 shares a decrease of 9.1% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors claims 187,126 shares with a value of $10,941,000. The total value of its holdings decreased 0.5%. As of the end of the quarter Parkside Financial Bank & Trust had sold a total of 37 shares trimming its position 11.3%. The value of the investment in AMC Networks Inc. decreased from $17,000 to $17,000 a change of 0.0% since the last quarter.
Aperio Group, LLC added to its investment by buying 20,145 shares an increase of 111.1%. Aperio Group, LLC owns 38,273 shares valued at $2,238,000. The value of the position overall is up by 131.2%. As of quarter end Clear Harbor Asset Management, LLC had acquired 765 shares growing its holdings by 1.3%. The value of the investment in AMCX went from $3,352,000 to $3,528,000 increasing 5.3% for the reporting period.
Wells Fargo released its first research report on the stock giving it an initial rating of “Outperform”.
AMC Networks Inc. currently has a P/E ratio of 11.12 and the market value is 3.23B. As of the last earnings report the EPS was $4.58 and is projected to be $6.64 for the current year with 63,565,000 shares now outstanding. Next quarter’s EPS is forecasted at $1.59 and the next full year EPS is anticipated to be $6.92.
AMC Networks Inc., launched on March 9, 2011, is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada. The International and Other segment principally includes AMC Networks International (AMCNI), the Business’s international programming businesses, consisting of a portfolio of channels in Europe, Latin America, the Middle East and parts of Asia and Africa; IFC Films, the Business’s independent film distribution business; AMC Networks International- DMC, the broadcast solutions unit of certain networks of AMCNI and third-party networks, and various developing online content distribution initiatives..