Raymond James & Associates purchased a new stake in AMC Entertainment Holdings, Inc. (NYSE:AMC – Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,249 shares of the company’s stock, valued at approximately $49,000.
A number of other large investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in AMC Entertainment by 44.3% in the fourth 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. Covestor Ltd grew its position in AMC Entertainment by 417.6% in the first 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. AE Wealth Management LLC purchased a new position in AMC Entertainment in the second quarter worth approximately $53,000. Keel Point LLC purchased a new position in AMC Entertainment in the second quarter worth approximately $79,000. Finally, Boulder Hill Capital Management LP purchased a new position in AMC Entertainment in the first quarter worth approximately $628,000. 28.79% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Citigroup lowered their price target on AMC Entertainment from $15.50 to $4.75 and set a “sell” rating for the company in a research report on Tuesday, September 26th. StockNews.com assumed coverage on AMC Entertainment in a research report on Thursday, October 5th. They set a “sell” rating for the company. Wedbush upgraded AMC Entertainment from an “underperform” rating to a “neutral” rating and set a $19.00 price target for the company in a research report on Thursday, August 24th. B. Riley lowered their price target on AMC Entertainment from $45.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, October 3rd. Finally, Credit Suisse Group lowered their price target on AMC Entertainment from $8.38 to $8.00 and set an “underperform” rating for the company in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, AMC Entertainment presently has a consensus rating of “Reduce” and a consensus target price of $10.35.
AMC Entertainment Trading Up 2.2 %
Shares of NYSE AMC opened at $8.07 on Wednesday. The stock has a market cap of $1.28 billion, a P/E ratio of -1.96 and a beta of 1.95. AMC Entertainment Holdings, Inc. has a 12-month low of $7.05 and a 12-month high of $91.50. The business’s fifty day simple moving average is $8.99 and its 200-day simple moving average is $30.22.
AMC Entertainment (NYSE:AMC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.11. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.26 billion. The firm’s revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.00) earnings per share. On average, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -2.13 EPS for the current fiscal year.
AMC Entertainment Company Profile
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.
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