AMC Entertainment (NYSE:AMC) Shares Gap Down to $4.83

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $4.83, but opened at $4.67. AMC Entertainment shares last traded at $4.76, with a volume of 11,471,311 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMC shares. 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. Wedbush lowered their price objective on AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Finally, Citigroup raised their target price on AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research report on Tuesday, May 14th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $5.54.

AMC Entertainment Price Performance

The company has a market capitalization of $1.49 billion, a P/E ratio of -3.98 and a beta of 1.69. The stock’s 50 day simple moving average is $3.64 and its two-hundred day simple moving average is $4.97.

AMC Entertainment (NYSE:AMC) last released its earnings results 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 for the quarter, compared to analyst estimates of $1.06 billion. As a group, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.7 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd lifted its holdings in AMC Entertainment by 935.5% during the third quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock worth $6,506,000 after acquiring an additional 735,666 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of AMC Entertainment in the 3rd quarter valued at about $5,582,000. HBK Sorce Advisory LLC lifted its holdings in shares of AMC Entertainment by 31.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after purchasing an additional 6,525 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of AMC Entertainment during the fourth quarter worth about $459,000. Finally, Jump Financial LLC bought a new position in shares of AMC Entertainment during the third quarter worth about $165,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.