AMC Entertainment (NYSE:AMC) Trading Down 6% After Analyst Downgrade

AMC Entertainment Holdings, Inc. (NYSE:AMC) fell 6% during mid-day trading on Thursday after Wedbush lowered their price target on the stock from $6.00 to $4.00. Wedbush currently has a neutral rating on the stock. AMC Entertainment traded as low as $2.78 and last traded at $2.80. 3,130,811 shares were traded during trading, a decline of 79% from the average session volume of 15,152,169 shares. The stock had previously closed at $2.98.

Separately, B. Riley decreased their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, AMC Entertainment presently has a consensus rating of “Reduce” and a consensus target price of $5.95.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently added to or reduced their stakes in AMC. Covestor Ltd grew its stake in AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after acquiring an additional 856 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of AMC Entertainment by 12.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 11,944 shares of the company’s stock worth $83,000 after purchasing an additional 1,366 shares during the period. Guggenheim Capital LLC lifted its position in AMC Entertainment by 16.1% during the third quarter. Guggenheim Capital LLC now owns 15,422 shares of the company’s stock valued at $107,000 after acquiring an additional 2,134 shares during the last quarter. Principal Financial Group Inc. lifted its position in AMC Entertainment by 4.4% during the first quarter. Principal Financial Group Inc. now owns 51,374 shares of the company’s stock valued at $257,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Creative Planning lifted its position in AMC Entertainment by 22.1% during the fourth quarter. Creative Planning now owns 13,534 shares of the company’s stock valued at $55,000 after acquiring an additional 2,450 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Price Performance

The stock’s 50-day moving average is $3.99 and its 200 day moving average is $5.94. The company has a market cap of $831.96 million, a PE ratio of -1.34 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current year.

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.