AMC Entertainment (NYSE:AMC) Trading Down 5.8%

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price was down 5.8% during mid-day trading on Tuesday . The company traded as low as $3.08 and last traded at $3.10. Approximately 3,590,755 shares changed hands during trading, a decline of 78% from the average daily volume of 15,990,011 shares. The stock had previously closed at $3.29.

Analysts Set New Price Targets

AMC has been the subject of a number of research reports. B. Riley reduced their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Wedbush reissued a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.95.

AMC Entertainment Trading Down 3.3 %

The business has a fifty day moving average price of $3.66 and a 200 day moving average price of $5.38.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.87 EPS for the current year.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd grew its holdings in shares of AMC Entertainment by 935.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock worth $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of AMC Entertainment in the 3rd quarter valued at $5,582,000. HBK Sorce Advisory LLC raised its stake in shares of AMC Entertainment by 31.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after buying an additional 6,525 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of AMC Entertainment during the 4th quarter valued at about $459,000. Finally, Jump Financial LLC bought a new stake in AMC Entertainment in the third quarter valued at about $165,000. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.