AMC Entertainment (NYSE:AMC) Stock Price Down 6.8% – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded down 6.8% during trading on Tuesday . The company traded as low as $2.70 and last traded at $2.6550. Approximately 17,601,042 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 39,570,625 shares. The stock had previously closed at $2.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMC shares. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. UBS Group restated a “buy” rating on shares of AMC Entertainment in a research note on Tuesday, July 21st. Benchmark reissued a “buy” rating and issued a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. Wedbush restated an “outperform” rating and set a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, AMC Entertainment has an average rating of “Moderate Buy” and a consensus target price of $2.53.

AMC Entertainment Price Performance

The business has a fifty day moving average price of $2.19 and a 200 day moving average price of $1.64. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -2.41 and a beta of 2.06.

AMC Entertainment (NYSE:AMC) last released its earnings results on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.50 billion. Research analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In related news, CEO Adam M. Aron bought 250,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $1.38 per share, with a total value of $345,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,437,020 shares of the company’s stock, valued at approximately $3,363,087.60. This trade represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On AMC Entertainment

A number of large investors have recently made changes to their positions in AMC. Caitong International Asset Management Co. Ltd lifted its stake in shares of AMC Entertainment by 3,100.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 225,685 shares of the company’s stock valued at $352,000 after purchasing an additional 218,634 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of AMC Entertainment during the fourth quarter valued at $178,000. State of Wyoming boosted its stake in shares of AMC Entertainment by 156.8% in the 4th quarter. State of Wyoming now owns 151,595 shares of the company’s stock valued at $236,000 after purchasing an additional 92,562 shares in the last quarter. Optimize Financial Inc boosted its stake in shares of AMC Entertainment by 1.5% in the 4th quarter. Optimize Financial Inc now owns 543,906 shares of the company’s stock valued at $848,000 after purchasing an additional 7,824 shares in the last quarter. Finally, Powell Investment Advisors LLC bought a new stake in shares of AMC Entertainment in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.