AMC Entertainment (NYSE:AMC) Stock Price Down 5.8%

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price dropped 5.8% on Tuesday . The company traded as low as $3.08 and last traded at $3.10. Approximately 3,590,755 shares changed 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

Several research analysts have recently issued reports on the company. B. Riley lowered their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, AMC Entertainment has an average rating of “Reduce” and a consensus price target of $5.95.

AMC Entertainment Price Performance

The business’s 50-day moving average is $3.66 and its two-hundred day moving average is $5.38.

AMC Entertainment (NYSE:AMC) last issued its 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 business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, equities analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after buying an additional 6,577,228 shares during the period. Norges Bank purchased a new stake in shares of AMC Entertainment in the fourth quarter valued at $12,605,000. Adage Capital Partners GP L.L.C. increased its stake in AMC Entertainment by 103.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock valued at $337,000 after purchasing an additional 1,178,950 shares during the last quarter. Qube Research & Technologies Ltd lifted its position 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 buying an additional 735,666 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in AMC Entertainment in the 3rd quarter worth about $5,582,000. Hedge funds and other 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.