AMC Entertainment (NYSE:AMC) Trading Down 2% on Analyst Downgrade

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price was down 2% on Friday after Credit Suisse Group lowered their price target on the stock from $8.38 to $8.00. Credit Suisse Group currently has an underperform rating on the stock. AMC Entertainment traded as low as $12.12 and last traded at $12.30. Approximately 4,420,150 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 4,366,948 shares. The stock had previously closed at $12.55.

Other equities research analysts also recently issued reports about the stock. Citigroup reiterated a “sell” rating on shares of AMC Entertainment in a research note on Monday, July 3rd. StockNews.com began coverage on shares of AMC Entertainment in a research note on Thursday, August 17th. They issued a “sell” rating for the company. B. Riley restated a “neutral” rating and issued a $45.00 target price on shares of AMC Entertainment in a research note on Monday, August 14th. Wedbush upgraded shares of AMC Entertainment from an “underperform” rating to a “neutral” rating and set a $19.00 target price for the company in a research note on Thursday, August 24th. Finally, Roth Mkm restated a “sell” rating on shares of AMC Entertainment in a research note on Wednesday, August 16th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, AMC Entertainment currently has a consensus rating of “Reduce” and a consensus price target of $18.60.

Insider Buying and Selling at AMC Entertainment

In other AMC Entertainment news, major shareholder Antara Capital Lp sold 100,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $15.90, for a total transaction of $1,590,000.00. Following the transaction, the insider now directly owns 13,812,208 shares in the company, valued at approximately $219,614,107.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 2,925,682 shares of company stock worth $50,498,372 in the last ninety days. 0.30% of the stock is owned by insiders.

Institutional Trading of AMC Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. Machina Capital S.A.S. acquired a new stake in shares of AMC Entertainment during the first quarter worth $26,000. Covestor Ltd increased its holdings in shares of AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after acquiring an additional 856 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of AMC Entertainment by 32.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 8,156 shares of the company’s stock worth $41,000 after acquiring an additional 1,977 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of AMC Entertainment in the 4th quarter worth about $46,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of AMC Entertainment by 44.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after acquiring an additional 3,448 shares during the period. 28.79% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Stock Performance

The stock’s fifty day moving average is $39.05 and its two-hundred day moving average is $43.82. The firm has a market cap of $680.14 million, a price-to-earnings ratio of -2.05 and a beta of 1.77.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.