AMC Entertainment (NYSE:AMC) Trading Down 5.3%

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares dropped 5.3% during mid-day trading on Wednesday . The stock traded as low as $3.20 and last traded at $3.21. Approximately 10,299,141 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 15,571,496 shares. The stock had previously closed at $3.39.

Analyst Upgrades and Downgrades

AMC has been the subject of several research analyst reports. B. Riley decreased 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 cut their target price on AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.95.

AMC Entertainment Stock Performance

The firm has a market capitalization of $897.78 million, a price-to-earnings ratio of -1.45 and a beta of 1.62. The business has a fifty day moving average of $3.86 and a two-hundred day moving average of $5.77.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. As a group, sell-side analysts predict that AMC Entertainment Holdings, Inc. will post -1.61 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

Large investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. lifted its position in shares of AMC Entertainment by 43.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 16,663 shares of the company’s stock worth $102,000 after buying an additional 5,070 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of AMC Entertainment during the 4th quarter worth $34,000. Exchange Traded Concepts LLC lifted its position in shares of AMC Entertainment by 63.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,806 shares of the company’s stock worth $118,000 after buying an additional 5,748 shares during the last quarter. Blueshift Asset Management LLC lifted its position in shares of AMC Entertainment by 13.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 53,008 shares of the company’s stock worth $424,000 after buying an additional 6,163 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of AMC Entertainment by 31.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock worth $168,000 after buying an additional 6,525 shares during the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

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.