AMC Entertainment (NYSE:AMC) Given New $10.00 Price Target at Morgan Stanley

AMC Entertainment (NYSE:AMC) had its price objective trimmed by Morgan Stanley from $11.00 to $10.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on AMC. Wedbush reiterated a neutral rating and issued a $4.00 price target on shares of AMC Entertainment in a research report on Monday, August 5th. Macquarie boosted their price target on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock an underperform rating in a research report on Tuesday, July 9th. Benchmark reiterated a hold rating on shares of AMC Entertainment in a research report on Monday, August 5th. Finally, Citigroup boosted their price target on shares of AMC Entertainment from $3.10 to $3.20 and gave the stock a sell rating in a research report on Tuesday, May 14th. Six equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Reduce and an average price target of $6.03.

AMC Entertainment Stock Up 1.0 %

AMC stock opened at $5.05 on Monday. The company has a market capitalization of $1.49 billion, a P/E ratio of -3.97 and a beta of 1.84. The company has a 50-day simple moving average of $5.04 and a 200 day simple moving average of $4.37. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $41.90.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Friday, August 2nd. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. The firm’s quarterly revenue was down 23.1% compared to the same quarter last year. Equities analysts anticipate that AMC Entertainment will post -0.48 EPS for the current year.

Hedge Funds Weigh In On AMC Entertainment

A number of large investors have recently made changes to their positions in AMC. Vanguard Group Inc. increased its holdings in shares of AMC Entertainment by 48.3% in the 4th quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after purchasing an additional 6,577,228 shares during the period. Norges Bank acquired a new position in shares of AMC Entertainment in the 4th quarter valued at about $12,605,000. Renaissance Technologies LLC increased its holdings in shares of AMC Entertainment by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after purchasing an additional 1,585,430 shares during the period. SG Americas Securities LLC increased its holdings in shares of AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after purchasing an additional 1,064,805 shares during the period. Finally, Boulder Hill Capital Management LP acquired a new position in shares of AMC Entertainment in the 1st quarter valued at about $2,842,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

About AMC Entertainment

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.