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

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price dropped 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. Approximately 3,130,811 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 15,152,169 shares. The stock had previously closed at $2.98.

Separately, B. Riley cut their price target 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 equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.95.

Institutional Trading of AMC Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after buying an additional 6,577,228 shares during the last quarter. Invesco Ltd. increased its position in AMC Entertainment by 418.4% during the first quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock worth $64,934,000 after buying an additional 2,126,916 shares during the last quarter. Norges Bank acquired a new position in AMC Entertainment during the fourth quarter worth approximately $12,605,000. Marshall Wace LLP acquired a new position in AMC Entertainment during the second quarter worth approximately $6,406,000. Finally, SG Americas Securities LLC increased its position in AMC Entertainment by 3,234.8% during the third 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. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Stock Down 7.0 %

The company has a market cap of $729.29 million, a P/E ratio of -1.18 and a beta of 1.62. The business has a fifty day moving average price of $4.03 and a 200-day moving average price of $5.99.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, research analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current 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.