Short Interest in AMC Entertainment Holdings, Inc. (NYSE:AMC) Decreases By 7.9%

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 48,610,000 shares, a decline of 7.9% from the October 15th total of 52,760,000 shares. Currently, 13.0% of the shares of the company are short sold. Based on an average daily volume of 8,720,000 shares, the short-interest ratio is presently 5.6 days.

Analysts Set New Price Targets

Several brokerages have recently commented on AMC. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. B. Riley dropped their price objective on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Morgan Stanley cut their target price on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. Finally, Macquarie reaffirmed an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $5.44.

AMC Entertainment Stock Performance

Shares of AMC opened at $4.48 on Monday. AMC Entertainment has a 52-week low of $2.38 and a 52-week high of $11.88. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -2.78 and a beta of 1.83. The business’s fifty day moving average is $4.48 and its 200-day moving average is $4.71.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned ($0.09) earnings per share. As a group, research analysts forecast that AMC Entertainment will post -1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in AMC Entertainment by 1,894.0% in the second quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after buying an additional 1,064,805 shares in the last quarter. Scientech Research LLC bought a new position in shares of AMC Entertainment in the 2nd quarter valued at $1,167,000. Bank of New York Mellon Corp lifted its stake in shares of AMC Entertainment by 92.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock valued at $5,411,000 after acquiring an additional 522,063 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of AMC Entertainment by 24.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,620 shares of the company’s stock valued at $245,000 after acquiring an additional 12,975 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in 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 during the last quarter. 28.80% of the stock is owned by institutional investors.

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.