Loop Capital Reiterates “Sell” Rating for AMC Entertainment (NYSE:AMC)


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AMC Entertainment (NYSE:AMC)‘s stock had its “sell” rating reiterated by analysts at Loop Capital in a report issued on Wednesday, TipRanks reports. They presently have a $1.00 price objective on the stock. Loop Capital’s price target indicates a potential downside of 89.69% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of AMC Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, March 30th. B. Riley upgraded shares of AMC Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.00 to $13.00 in a research report on Monday. Wedbush increased their price target on shares of AMC Entertainment from $2.50 to $5.00 and gave the company a “neutral” rating in a research report on Tuesday, March 9th. UBS Group assumed coverage on shares of AMC Entertainment in a research report on Wednesday, March 10th. They issued a “sell” rating on the stock. Finally, MKM Partners lowered shares of AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price target on the stock. in a research report on Monday, February 1st. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. AMC Entertainment currently has a consensus rating of “Hold” and an average target price of $5.00.

NYSE AMC traded down $0.15 during trading hours on Wednesday, hitting $9.70. 438,905 shares of the stock were exchanged, compared to its average volume of 169,334,250. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -0.28 and a beta of 2.48. AMC Entertainment has a 12-month low of $1.91 and a 12-month high of $20.36. The stock has a 50-day moving average of $9.62 and a 200 day moving average of $5.41.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Tuesday, March 9th. The company reported ($3.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.80) by ($0.35). The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $141.31 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was down 88.8% compared to the same quarter last year. On average, analysts expect that AMC Entertainment will post -16.59 earnings per share for the current year.

In other AMC Entertainment news, SVP Daniel E. Ellis sold 20,000 shares of the business’s stock in a transaction on Monday, March 29th. The stock was sold at an average price of $10.26, for a total transaction of $205,200.00. Following the completion of the transaction, the senior vice president now owns 91,294 shares in the company, valued at approximately $936,676.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lake Group L.L.C. Silver sold 33,317,145 shares of the business’s stock in a transaction on Wednesday, January 27th. The stock was sold at an average price of $16.05, for a total value of $534,740,177.25. The disclosure for this sale can be found here. Insiders sold a total of 33,473,324 shares of company stock valued at $536,584,964 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of AMC Entertainment in the 4th quarter worth $26,000. Lincoln National Corp bought a new stake in shares of AMC Entertainment in the 4th quarter worth $27,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of AMC Entertainment in the 4th quarter worth $27,000. ProShare Advisors LLC bought a new stake in shares of AMC Entertainment in the 4th quarter worth $36,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of AMC Entertainment in the 4th quarter worth $40,000. 16.61% of the stock is currently owned by institutional investors.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Analyst Recommendations for AMC Entertainment (NYSE:AMC)

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