AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report) dropped 6% during mid-day trading 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. Approximately 3,130,811 shares traded hands during trading, a decline of 79% from the average daily volume of 15,152,169 shares. The stock had previously closed at $2.98.
Separately, B. Riley dropped their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company 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. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.95.
Hedge Funds Weigh In On AMC Entertainment
Hedge funds have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after buying an additional 856 shares in the last quarter. KBC Group NV purchased a new position in shares of AMC Entertainment in the fourth quarter worth $30,000. Russell Investments Group Ltd. purchased a new position in shares of AMC Entertainment in the fourth quarter worth $34,000. Quantamental Technologies LLC purchased a new position in shares of AMC Entertainment in the first quarter worth $212,000. Finally, XTX Topco Ltd purchased a new position in shares of AMC Entertainment in the first quarter worth $232,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.
AMC Entertainment Stock Down 2.3 %
The firm’s fifty day moving average price is $4.01 and its 200 day moving average price is $5.97. The stock has a market cap of $766.14 million, a PE ratio of -1.24 and a beta of 1.62.
AMC Entertainment (NYSE:AMC – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share 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.