Short Interest in AMC Entertainment Holdings, Inc. (NYSE:AMC) Decreases By 7.7%

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 52,760,000 shares, a decline of 7.7% from the September 30th total of 57,180,000 shares. Based on an average daily volume of 9,440,000 shares, the short-interest ratio is currently 5.6 days. Approximately 14.2% of the company’s stock are short sold.

AMC Entertainment Stock Down 3.4 %

NYSE:AMC traded down $0.15 on Thursday, hitting $4.41. The stock had a trading volume of 5,826,751 shares, compared to its average volume of 26,645,100. AMC Entertainment has a 52 week low of $2.38 and a 52 week high of $11.88. The business’s fifty day moving average is $4.58 and its 200 day moving average is $4.59. The company has a market cap of $1.30 billion, a PE ratio of -3.58 and a beta of 1.80.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.43). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. AMC Entertainment’s revenue was down 23.1% on a year-over-year basis. Equities analysts predict that AMC Entertainment will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its position in shares of AMC Entertainment by 31.5% during the 3rd quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock valued at $53,000 after acquiring an additional 2,771 shares during the period. Private Advisor Group LLC grew its stake in shares of AMC Entertainment by 27.5% in the third quarter. Private Advisor Group LLC now owns 15,011 shares of the company’s stock worth $68,000 after acquiring an additional 3,237 shares in the last quarter. Victory Capital Management Inc. increased its holdings in AMC Entertainment by 10.3% in the second quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock valued at $189,000 after buying an additional 3,553 shares during the last quarter. Waldron Private Wealth LLC raised its position in shares of AMC Entertainment by 47.0% during the 2nd quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock worth $85,000 after acquiring an additional 5,459 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AMC Entertainment by 14.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock valued at $230,000 after purchasing an additional 5,902 shares during the last quarter. 28.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Macquarie raised their price objective on shares of AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Tuesday, July 9th. Wedbush reissued a “neutral” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research note on Monday, August 5th. Morgan Stanley dropped their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Finally, Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, AMC Entertainment has a consensus rating of “Hold” and an average target price of $5.84.

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.