AMC Entertainment (NYSE:AMC) Stock Price Down 3.5%

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares dropped 3.5% on Wednesday . The company traded as low as $5.02 and last traded at $5.03. Approximately 7,799,759 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 36,917,750 shares. The stock had previously closed at $5.21.

Analyst Ratings Changes

A number of research firms recently issued reports on AMC. Citigroup lifted their price target on shares of AMC Entertainment from $3.10 to $3.20 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Wedbush cut their price target on AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $5.54.

AMC Entertainment Price Performance

The firm’s 50 day moving average price is $4.45 and its 200-day moving average price is $4.41. The stock has a market cap of $1.49 billion, a P/E ratio of -4.13 and a beta of 1.84.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.16). The firm had revenue of $951.40 million for the quarter, compared to analysts’ expectations of $951.40 million. On average, analysts expect that AMC Entertainment Holdings, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of AMC Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in AMC Entertainment by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after acquiring an additional 4,617,007 shares in the last quarter. Norges Bank acquired a new stake in AMC Entertainment in the 4th quarter valued at $12,605,000. Quadrature Capital Ltd raised its position in AMC Entertainment by 374.1% in the 4th quarter. Quadrature Capital Ltd now owns 818,077 shares of the company’s stock valued at $5,003,000 after purchasing an additional 645,541 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of AMC Entertainment by 935.5% during the third quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock worth $6,506,000 after acquiring an additional 735,666 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of AMC Entertainment during the first quarter worth $2,842,000. Institutional investors and hedge funds 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.