AMC Entertainment (NYSE:AMC) Stock Price Down 3.2%

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) were down 3.2% during trading on Wednesday . The stock traded as low as $2.96 and last traded at $3.00. Approximately 3,446,095 shares changed hands during trading, a decline of 77% from the average daily volume of 14,789,530 shares. The stock had previously closed at $3.10.

Analysts Set New Price Targets

Several analysts recently commented on AMC shares. B. Riley reduced their target price 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 reaffirmed a “neutral” rating and set a $6.00 target price on shares of AMC Entertainment in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, AMC Entertainment presently has an average rating of “Reduce” and a consensus target price of $6.35.

AMC Entertainment Stock Performance

The firm has a market cap of $789.84 million, a P/E ratio of -1.28 and a beta of 1.62. The firm’s fifty day moving average is $4.23 and its 200 day moving average is $6.30.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current year.

Institutional Trading of AMC Entertainment

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in AMC Entertainment by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 49,270,302 shares of the company’s stock valued at $343,413,000 after purchasing an additional 1,682,299 shares during the period. State Street Corp raised its position in shares of AMC Entertainment by 0.8% in the 1st quarter. State Street Corp now owns 13,393,337 shares of the company’s stock valued at $330,012,000 after buying an additional 107,221 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AMC Entertainment by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,372,225 shares of the company’s stock valued at $32,438,000 after buying an additional 207,235 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of AMC Entertainment by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,496,803 shares of the company’s stock valued at $17,519,000 after buying an additional 89,411 shares in the last quarter. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

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.