Bank of America Corp DE Sells 2,205,996 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC)

Bank of America Corp DE cut its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 26.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,186,061 shares of the company’s stock after selling 2,205,996 shares during the quarter. Bank of America Corp DE owned about 1.65% of AMC Entertainment worth $24,621,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in shares of AMC Entertainment during the third quarter valued at about $788,000. Traphagen Investment Advisors LLC purchased a new position in shares of AMC Entertainment during the 4th quarter worth approximately $64,000. KBC Group NV raised its position in shares of AMC Entertainment by 7,771.5% in the 4th quarter. KBC Group NV now owns 648,141 shares of the company’s stock worth $2,580,000 after acquiring an additional 639,907 shares in the last quarter. Rhumbline Advisers raised its position in shares of AMC Entertainment by 3.4% in the 4th quarter. Rhumbline Advisers now owns 511,171 shares of the company’s stock worth $2,034,000 after acquiring an additional 16,675 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of AMC Entertainment by 15.1% in the 4th quarter. New York State Common Retirement Fund now owns 92,418 shares of the company’s stock valued at $368,000 after purchasing an additional 12,100 shares during the period. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Price Performance

Shares of AMC Entertainment stock opened at $2.95 on Monday. AMC Entertainment Holdings, Inc. has a 1 year low of $2.45 and a 1 year high of $5.96. The firm’s 50-day moving average is $2.82 and its 200 day moving average is $3.52. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -1.83 and a beta of 1.41.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.03. The firm had revenue of $862.50 million during the quarter, compared to the consensus estimate of $983.23 million. During the same quarter in the prior year, the company posted ($0.62) EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts expect that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Roth Mkm reduced their price target on AMC Entertainment from $3.25 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research report on Monday, March 3rd. Macquarie reiterated a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Wednesday, February 26th. Roth Capital set a $3.25 price objective on shares of AMC Entertainment in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a report on Saturday, February 22nd. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, AMC Entertainment has a consensus rating of “Hold” and a consensus price target of $4.22.

AMC Entertainment Company Profile

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.