AMC Entertainment (NYSE:AMC) Trading Down 4% – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC) fell 4% during trading on Thursday . The stock traded as low as $3.14 and last traded at $3.16. 2,164,728 shares were traded during trading, a decline of 83% from the average session volume of 12,370,113 shares. The stock had previously closed at $3.29.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Roth Mkm reduced their price objective on AMC Entertainment from $3.25 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen raised AMC Entertainment to a “sell” rating in a research note on Saturday, February 22nd. Macquarie reissued a “neutral” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research note on Wednesday, February 26th. Citigroup reissued a “sell” rating and issued a $2.60 price objective (up from $2.30) on shares of AMC Entertainment in a research note on Thursday, May 29th. Finally, Benchmark reissued a “hold” rating on shares of AMC Entertainment in a research note on Monday, March 3rd. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.26.

AMC Entertainment Trading Up 0.8%

The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -1.96 and a beta of 1.50. The stock has a fifty day moving average price of $2.98 and a 200 day moving average price of $3.38.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.03. The business had revenue of $862.50 million during the quarter, compared to analyst estimates of $983.23 million. During the same period last year, the business earned ($0.62) EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current year.

Institutional Trading of AMC Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in AMC. Rhumbline Advisers lifted its holdings in shares of AMC Entertainment by 3.4% during the 4th quarter. Rhumbline Advisers now owns 511,171 shares of the company’s stock valued at $2,034,000 after purchasing an additional 16,675 shares in the last quarter. New York State Common Retirement Fund grew its holdings in AMC Entertainment by 15.1% in the 4th quarter. New York State Common Retirement Fund now owns 92,418 shares of the company’s stock valued at $368,000 after buying an additional 12,100 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of AMC Entertainment by 4,699.2% during the 4th quarter. Global Retirement Partners LLC now owns 52,263 shares of the company’s stock worth $208,000 after purchasing an additional 51,174 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of AMC Entertainment by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 947,788 shares of the company’s stock worth $3,772,000 after purchasing an additional 17,371 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in AMC Entertainment in the fourth quarter valued at about $225,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.