AMC Entertainment (NYSE:AMC) Trading Down 6.6% – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC) fell 6.6% on Thursday . The stock traded as low as $4.26 and last traded at $4.28. 3,689,830 shares traded hands during trading, a decline of 86% from the average session volume of 26,233,943 shares. The stock had previously closed at $4.58.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research report on Monday, August 5th. Finally, Morgan Stanley decreased their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, AMC Entertainment currently has an average rating of “Hold” and a consensus target price of $5.84.

AMC Entertainment Stock Down 5.7 %

The firm has a 50 day moving average of $4.52 and a 200-day moving average of $4.65. The company has a market cap of $1.56 billion, a P/E ratio of -3.00 and a beta of 1.83.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted ($0.09) EPS. On average, research analysts predict that AMC Entertainment Holdings, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of AMC Entertainment by 22.9% during the 1st quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after acquiring an additional 4,617,007 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of AMC Entertainment by 18.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after purchasing an additional 1,585,430 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of AMC Entertainment in the 2nd quarter worth $6,775,000. SG Americas Securities LLC grew its stake in AMC Entertainment by 1,894.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock worth $5,583,000 after buying an additional 1,064,805 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in AMC Entertainment during the 1st quarter valued at about $2,842,000. Institutional investors own 28.80% of the company’s stock.

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.