AMC Entertainment (NYSE:AMC) Stock Price Down 6% Following Analyst Downgrade

AMC Entertainment Holdings, Inc. (NYSE:AMC) fell 6% on Thursday after Wedbush lowered their price target on the stock from $6.00 to $4.00. Wedbush currently has a neutral rating on the stock. AMC Entertainment traded as low as $2.78 and last traded at $2.80. 3,130,811 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 15,152,169 shares. The stock had previously closed at $2.98.

Separately, B. Riley cut their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.95.

Institutional Trading of AMC Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of AMC. Vanguard Group Inc. raised its holdings in AMC Entertainment by 48.3% during the 4th quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after buying an additional 6,577,228 shares during the period. Invesco Ltd. increased its holdings in shares of AMC Entertainment by 418.4% in the 1st quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock valued at $64,934,000 after purchasing an additional 2,126,916 shares during the period. Norges Bank acquired a new position in shares of AMC Entertainment in the 4th quarter valued at about $12,605,000. Marshall Wace LLP acquired a new position in shares of AMC Entertainment in the 2nd quarter valued at about $6,406,000. Finally, SG Americas Securities LLC increased its holdings in shares of AMC Entertainment by 3,234.8% in the 3rd quarter. SG Americas Securities LLC now owns 1,274,309 shares of the company’s stock valued at $10,182,000 after purchasing an additional 1,236,097 shares during the period. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Trading Down 1.7 %

The company has a market cap of $771.41 million, a price-to-earnings ratio of -1.24 and a beta of 1.62. The business has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $5.97.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.7 EPS 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.