Wedbush Cuts AMC Entertainment (NYSE:AMC) Price Target to $4.00

AMC Entertainment (NYSE:AMC) had its price target decreased by analysts at Wedbush from $6.00 to $4.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price would indicate a potential upside of 26.58% from the stock’s current price.

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

AMC Entertainment Stock Performance

AMC stock opened at $3.16 on Thursday. The company has a market capitalization of $831.96 million, a price-to-earnings ratio of -1.34 and a beta of 1.62. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $62.30. The stock has a fifty day moving average of $3.99 and a 200-day moving average of $5.94.

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

Institutional Trading of AMC Entertainment

A number of hedge funds have recently bought and sold shares of AMC. American Century Companies Inc. lifted its position in AMC Entertainment by 17.5% in the 1st quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock worth $500,000 after buying an additional 3,020 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in AMC Entertainment by 49.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock worth $1,097,000 after buying an additional 14,732 shares during the last quarter. Panagora Asset Management Inc. increased its stake in AMC Entertainment by 141.2% in the 1st quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock worth $1,238,000 after purchasing an additional 29,413 shares during the period. Cibc World Market Inc. purchased a new position in AMC Entertainment in the 1st quarter worth approximately $321,000. Finally, Prudential PLC purchased a new position in AMC Entertainment in the 1st quarter worth approximately $275,000. Institutional investors own 28.80% of the company’s stock.

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.