AMC Entertainment Holdings, Inc. (NYSE:AMC) Short Interest Down 9.0% in June

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 52,950,000 shares, a drop of 9.0% from the May 31st total of 58,200,000 shares. Based on an average trading volume of 58,070,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 18.0% of the shares of the stock are short sold.

Analyst Ratings Changes

AMC has been the subject of a number of research reports. Wedbush lowered their price target on shares of AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday, May 9th. Citigroup boosted their target price on AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research report on Tuesday, May 14th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.54.

Institutional Trading of AMC Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after purchasing an additional 6,577,228 shares during the period. Norges Bank bought a new stake in shares of AMC Entertainment in the 4th quarter valued at $12,605,000. Adage Capital Partners GP L.L.C. raised its stake in AMC Entertainment by 103.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock worth $337,000 after buying an additional 1,178,950 shares during the period. Boulder Hill Capital Management LP bought a new position in AMC Entertainment during the first quarter worth about $2,842,000. Finally, Qube Research & Technologies Ltd grew its stake in AMC Entertainment by 935.5% in the third quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after acquiring an additional 735,666 shares during the period. 28.80% of the stock is owned by institutional investors.

AMC Entertainment Stock Performance

AMC traded down $0.18 during trading on Wednesday, reaching $5.03. 13,338,519 shares of the company’s stock were exchanged, compared to its average volume of 36,961,363. The company’s fifty day moving average price is $4.45 and its 200-day moving average price is $4.41. The firm has a market capitalization of $1.49 billion, a PE ratio of -4.13 and a beta of 1.84. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $62.30.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The company had revenue of $951.40 million during the quarter, compared to analyst estimates of $951.40 million. Research analysts forecast that AMC Entertainment will post -0.84 earnings per share 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.