AMC Entertainment (NYSE:AMC) Shares Gap Down to $4.34

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) gapped down before the market opened on Thursday . The stock had previously closed at $4.34, but opened at $3.84. AMC Entertainment shares last traded at $3.83, with a volume of 13,089,643 shares trading hands.

Wall Street Analysts Forecast Growth

AMC has been the subject of several analyst reports. B. Riley reduced their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Wedbush reissued a “neutral” rating and issued a $6.00 price target on shares of AMC Entertainment in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $6.35.

AMC Entertainment Trading Down 15.2 %

The company has a 50 day moving average price of $4.36 and a 200 day moving average price of $6.48. The company has a market capitalization of $968.87 million, a P/E ratio of -1.60 and a beta of 1.64.

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

Institutional Investors Weigh In On AMC Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its stake in shares of AMC Entertainment by 17.5% in the first quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock worth $500,000 after purchasing an additional 3,020 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of AMC Entertainment by 49.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock worth $1,097,000 after acquiring an additional 14,732 shares during the period. Panagora Asset Management Inc. boosted its stake in AMC Entertainment by 141.2% in the 1st quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock worth $1,238,000 after purchasing an additional 29,413 shares during the period. Cibc World Market Inc. bought a new position in AMC Entertainment in the 1st quarter worth about $321,000. Finally, Prudential PLC bought a new position in AMC Entertainment in the 1st quarter worth about $275,000. 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.