AMC Entertainment (NYSE:AMC) Reaches New 52-Week Low at $2.38

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares reached a new 52-week low on Tuesday . The stock traded as low as $2.38 and last traded at $2.48, with a volume of 2346685 shares trading hands. The stock had previously closed at $2.47.

Wall Street Analyst Weigh In

AMC has been the subject of several research analyst reports. B. Riley cut their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of AMC Entertainment in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $6.35.

AMC Entertainment Trading Up 9.0 %

The firm has a market capitalization of $780.63 million, a PE ratio of -1.27 and a beta of 1.62. The business’s 50 day simple moving average is $4.03 and its 200 day simple moving average is $5.99.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Analysts forecast that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its stake in shares of AMC Entertainment by 417.6% during the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares during the period. KBC Group NV purchased a new position in shares of AMC Entertainment during the 4th quarter worth about $30,000. Russell Investments Group Ltd. purchased a new position in shares of AMC Entertainment during the 4th quarter worth about $34,000. PNC Financial Services Group Inc. boosted its stake in shares of AMC Entertainment by 44.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after purchasing an additional 3,448 shares during the period. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of AMC Entertainment during the 1st quarter worth about $54,000. 28.80% of the stock is owned by hedge funds and other institutional investors.

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.