Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report) were down 5.8% on Tuesday . The stock traded as low as $3.08 and last traded at $3.10. Approximately 3,590,755 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 15,990,011 shares. The stock had previously closed at $3.29.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. B. Riley lowered their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Wedbush lowered their target price on shares of AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $5.85.
Check Out Our Latest Analysis on AMC Entertainment
AMC Entertainment Stock Down 4.1 %
AMC Entertainment (NYSE:AMC – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Analysts forecast that AMC Entertainment Holdings, Inc. will post -0.87 EPS for the current year.
Institutional Investors Weigh In On AMC Entertainment
Several institutional investors have recently bought and sold shares of AMC. Russell Investments Group Ltd. purchased a new position in AMC Entertainment in the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC lifted its stake in shares of AMC Entertainment by 817.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,945 shares of the company’s stock worth $61,000 after acquiring an additional 8,861 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in AMC Entertainment in the first quarter valued at about $37,000. San Luis Wealth Advisors LLC acquired a new stake in AMC Entertainment during the 3rd quarter valued at approximately $82,000. Finally, Eudaimonia Partners LLC purchased a new stake in AMC Entertainment during the 4th quarter worth approximately $71,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.
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.
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