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

AMC Entertainment Holdings, Inc. (NYSE:AMC) gapped down prior to trading 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.

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 research report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $5.85.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 6,577,228 shares during the last quarter. Norges Bank acquired a new position in shares of AMC Entertainment in the 4th quarter valued at $12,605,000. Quadrature Capital Ltd raised its stake in AMC Entertainment by 374.1% in the 4th quarter. Quadrature Capital Ltd now owns 818,077 shares of the company’s stock worth $5,003,000 after acquiring an additional 645,541 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in AMC Entertainment by 935.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after purchasing an additional 735,666 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of AMC Entertainment during the third quarter worth about $5,582,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Stock Performance

The company’s fifty day moving average is $3.59 and its two-hundred day moving average is $5.33. The company has a market cap of $831.96 million, a price-to-earnings ratio of -1.36 and a beta of 1.69.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate 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. On average, sell-side analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.87 EPS for the current fiscal year.

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.