AMC Entertainment (NYSE:AMC) Shares Gap Down to $4.34

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.34, but opened at $3.84. AMC Entertainment shares last traded at $3.83, with a volume of 13,089,643 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMC shares. Wedbush reissued a “neutral” rating and set a $6.00 price objective on shares of AMC Entertainment in a report on Friday, February 23rd. 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 analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $6.35.

AMC Entertainment Stock Performance

The stock has a market capitalization of $968.87 million, a P/E ratio of -1.60 and a beta of 1.64. The firm has a 50-day moving average price of $4.36 and a 200 day moving average price of $6.48.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.16. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Trading of AMC Entertainment

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

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.