AMC Entertainment (NYSE:AMC) Shares Down 6% on Analyst Downgrade

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded down 6% during trading on Thursday after Wedbush lowered their price target on the stock from $6.00 to $4.00. Wedbush currently has a neutral rating on the stock. AMC Entertainment traded as low as $2.78 and last traded at $2.80. 3,130,811 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 15,152,169 shares. The stock had previously closed at $2.98.

Separately, B. Riley cut their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, AMC Entertainment has an average rating of “Reduce” and an average target price of $5.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in AMC Entertainment by 3,234.8% during the 3rd quarter. SG Americas Securities LLC now owns 1,274,309 shares of the company’s stock worth $10,182,000 after buying an additional 1,236,097 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in 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 acquiring an additional 735,666 shares during the period. Canada Pension Plan Investment Board acquired a new position in AMC Entertainment during the 3rd quarter worth $5,582,000. HBK Sorce Advisory LLC boosted its position in 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 acquiring an additional 6,525 shares during the period. Finally, Oak Thistle LLC acquired a new position in AMC Entertainment during the 4th quarter worth $459,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment Trading Down 7.0 %

The stock has a 50-day simple moving average of $4.03 and a 200-day simple moving average of $5.99. The company has a market cap of $729.29 million, a price-to-earnings ratio of -1.18 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) 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, research analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current fiscal year.

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.