AMC Entertainment (NYSE:AMC) Stock Dropped to Hold by Zacks Research

Zacks Research lowered shares of AMC Entertainment (NYSE:AMC) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks reports.

A number of other research firms also recently weighed in on AMC. Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a report on Tuesday, July 21st. B. Riley Financial reissued a “neutral” rating on shares of AMC Entertainment in a report on Monday, October 19th. Benchmark restated a “buy” rating and set a $3.00 target price (up from $2.50) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Texas Capital raised AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.73.

AMC Entertainment Stock Performance

NYSE:AMC opened at $3.31 on Wednesday. The company has a 50-day moving average of $2.93 and a 200-day moving average of $2.05. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -8.96 and a beta of 2.03. AMC Entertainment has a 52 week low of $0.93 and a 52 week high of $3.77.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. AMC Entertainment’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. Sell-side analysts forecast that AMC Entertainment will post -0.11 EPS for the current year.

Hedge Funds Weigh In On AMC Entertainment

Several institutional investors have recently added to or reduced their stakes in AMC. Kestra Advisory Services LLC boosted its position in AMC Entertainment by 24.6% in the third quarter. Kestra Advisory Services LLC now owns 17,162 shares of the company’s stock valued at $51,000 after buying an additional 3,393 shares in the last quarter. Profund Advisors LLC grew its stake in AMC Entertainment by 40.0% during the third quarter. Profund Advisors LLC now owns 17,888 shares of the company’s stock worth $54,000 after buying an additional 5,113 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of AMC Entertainment by 41.7% during the third quarter. Sterling Capital Management LLC now owns 17,797 shares of the company’s stock worth $53,000 after buying an additional 5,241 shares in the last quarter. Triton Wealth Management PLLC increased its holdings in shares of AMC Entertainment by 14.6% during the third quarter. Triton Wealth Management PLLC now owns 76,408 shares of the company’s stock worth $248,000 after buying an additional 9,757 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of AMC Entertainment by 64.9% during the second quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock worth $48,000 after buying an additional 10,003 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc. operates movie theaters that show films and other content, including special-event programming. Its theaters offer services such as reserved seating, online ticketing, and food and beverage sales, with amenities and premium formats varying by location. The company serves audiences in the United States and Europe through brands including AMC, ODEON, and Nordic Cinema. Its history dates to 1920, when the Dubinsky brothers began operating theaters in the Kansas City area.