AMC Entertainment (NYSE:AMC) Trading Down 6.6% – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares were down 6.6% on Tuesday . The company traded as low as $3.25 and last traded at $3.28. Approximately 15,525,908 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 11,274,383 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

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

AMC Entertainment Price Performance

The stock has a 50-day moving average of $4.36 and a 200-day moving average of $4.64. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -2.04 and a beta of 1.92.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) 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 analyst estimates of $1.33 billion. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the company posted ($0.09) earnings per share. On average, equities analysts expect that AMC Entertainment Holdings, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in AMC Entertainment in the 3rd quarter worth about $37,000. Creative Planning bought a new position in shares of AMC Entertainment during the third quarter valued at $48,000. Amalgamated Bank grew its stake in shares of AMC Entertainment by 31.5% in the third quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock worth $53,000 after purchasing an additional 2,771 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in AMC Entertainment during the 3rd quarter worth $55,000. Finally, Private Advisor Group LLC lifted its holdings in AMC Entertainment by 27.5% during the 3rd quarter. Private Advisor Group LLC now owns 15,011 shares of the company’s stock worth $68,000 after buying an additional 3,237 shares during the period. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.