AMC Entertainment (NYSE:AMC) Shares Down 6.6% - Here's Why

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) shares fell 6.6% on Thursday . The stock traded as low as $4.26 and last traded at $4.28. 3,689,830 shares changed hands during trading, a decline of 86% from the average session volume of 26,233,943 shares. The stock had previously closed at $4.58.

Analyst Ratings Changes

Several brokerages recently issued reports on AMC. Wedbush restated a "neutral" rating and issued a $4.00 target price on shares of AMC Entertainment in a report on Monday, August 5th. Benchmark restated a "hold" rating on shares of AMC Entertainment in a research note on Thursday. Finally, Morgan Stanley lowered their target price on AMC Entertainment from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $5.84.

AMC Entertainment Stock Performance

The stock has a fifty day moving average of $4.52 and a 200 day moving average of $4.65. The company has a market capitalization of $1.56 billion, a P/E ratio of -3.00 and a beta of 1.83.

AMC Entertainment (NYSE:AMC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm's quarterly revenue was down 4.1% on a year-over-year basis. Research analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.36 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company's stock worth $5,583,000 after purchasing an additional 1,064,805 shares in the last quarter. Scientech Research LLC bought a new position in shares of AMC Entertainment during the second quarter worth $1,167,000. Bank of New York Mellon Corp grew its stake in AMC Entertainment by 92.5% during the second quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company's stock valued at $5,411,000 after acquiring an additional 522,063 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in AMC Entertainment by 24.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,620 shares of the company's stock valued at $245,000 after acquiring an additional 12,975 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in AMC Entertainment in the 1st quarter worth $1,270,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

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