AMC Entertainment (NYSE:AMC) Shares Gap Down After Analyst Downgrade

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) gapped down before the market opened on Thursday after Wedbush lowered their price target on the stock from $4.00 to $3.50. The stock had previously closed at $3.19, but opened at $3.02. Wedbush currently has a neutral rating on the stock. AMC Entertainment shares last traded at $3.01, with a volume of 6,009,028 shares trading hands.

Separately, B. Riley dropped their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research 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 company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $5.85.

Institutional Investors Weigh In On AMC Entertainment

A number of large investors have recently bought and sold shares of AMC. Avantax Advisory Services Inc. lifted its holdings in shares of AMC Entertainment by 43.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 16,663 shares of the company’s stock worth $102,000 after purchasing an additional 5,070 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of AMC Entertainment in the fourth quarter valued at $34,000. Blueshift Asset Management LLC grew its holdings in shares of AMC Entertainment by 13.2% during the third quarter. Blueshift Asset Management LLC now owns 53,008 shares of the company’s stock valued at $424,000 after buying an additional 6,163 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of AMC Entertainment by 31.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after buying an additional 6,525 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of AMC Entertainment by 50.6% during the first quarter. Principal Financial Group Inc. now owns 20,091 shares of the company’s stock worth $75,000 after acquiring an additional 6,748 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors and hedge funds.

AMC Entertainment Stock Performance

The company has a market cap of $805.63 million, a price-to-earnings ratio of -1.30 and a beta of 1.69. The stock’s fifty day moving average is $3.56 and its two-hundred day moving average is $5.31.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.87 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.