Traynor Capital Management Inc. Lowers Holdings in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Traynor Capital Management Inc. cut its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 19.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,230 shares of the company’s stock after selling 3,882 shares during the period. Traynor Capital Management Inc.’s holdings in AMC Entertainment were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of AMC Entertainment by 153.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock valued at $16,860,000 after acquiring an additional 2,243,052 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of AMC Entertainment in the 3rd quarter valued at about $893,000. Geode Capital Management LLC lifted its position in shares of AMC Entertainment by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock worth $36,622,000 after purchasing an additional 866,757 shares during the period. Sanctuary Advisors LLC bought a new position in shares of AMC Entertainment during the third quarter valued at approximately $72,000. Finally, Scientech Research LLC purchased a new position in AMC Entertainment during the second quarter valued at approximately $1,167,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AMC. StockNews.com raised AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. B. Riley cut their target price on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. Finally, Macquarie reaffirmed an “underperform” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Stock Performance

Shares of AMC stock opened at $3.43 on Friday. AMC Entertainment Holdings, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $11.88. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.13 and a beta of 1.92. The stock’s 50-day simple moving average is $4.22 and its 200-day simple moving average is $4.57.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -1.41 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.