AMC Entertainment (NYSE:AMC) Stock Price Down 6.4%

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded down 6.4% during trading on Wednesday . The stock traded as low as $43.78 and last traded at $44.29. 283,007 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 144,749,359 shares. The stock had previously closed at $47.30.

AMC has been the subject of a number of recent analyst reports. Wedbush reissued a “hold” rating and set a $7.50 price objective on shares of AMC Entertainment in a research report on Thursday, August 12th. Zacks Investment Research cut shares of AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, July 22nd. Citigroup upped their price objective on shares of AMC Entertainment from $3.70 to $5.00 and gave the stock a “sell” rating in a report on Thursday, August 19th. Macquarie downgraded shares of AMC Entertainment from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 1st. Finally, B. Riley cut AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research note on Wednesday, May 26th. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Sell” and an average price target of $10.36.

The company’s 50-day simple moving average is $39.65 and its 200 day simple moving average is $29.09. The company has a market cap of $23.77 billion, a PE ratio of -2.76 and a beta of 1.27.

AMC Entertainment (NYSE:AMC) last released its earnings results on Sunday, August 8th. The company reported ($0.71) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.91) by $0.20. The company had revenue of $444.70 million for the quarter, compared to analyst estimates of $382.11 million. During the same period in the previous year, the firm earned ($5.44) earnings per share. The company’s revenue for the quarter was up 2252.9% compared to the same quarter last year. On average, equities analysts predict that AMC Entertainment Holdings, Inc. will post -2.75 earnings per share for the current fiscal year.

In other AMC Entertainment news, CFO Sean D. Goodman sold 45,405 shares of the firm’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $34.79, for a total value of $1,579,639.95. Following the sale, the chief financial officer now directly owns 111,300 shares in the company, valued at $3,872,127. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Stephen A. Colanero sold 2,495 shares of the stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $60.84, for a total value of $151,795.80. Following the completion of the transaction, the chief marketing officer now owns 91,384 shares in the company, valued at approximately $5,559,802.56. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its holdings in shares of AMC Entertainment by 74.8% during the second quarter. Parametric Portfolio Associates LLC now owns 313,957 shares of the company’s stock worth $17,795,000 after purchasing an additional 134,301 shares during the last quarter. Comerica Bank grew its stake in AMC Entertainment by 11.4% during the 2nd quarter. Comerica Bank now owns 12,473 shares of the company’s stock worth $422,000 after buying an additional 1,273 shares during the last quarter. Morgan Stanley increased its position in AMC Entertainment by 34.0% during the second quarter. Morgan Stanley now owns 1,283,719 shares of the company’s stock worth $72,761,000 after buying an additional 326,035 shares during the period. Weiss Multi Strategy Advisers LLC purchased a new stake in AMC Entertainment in the second quarter valued at approximately $428,000. Finally, Metropolitan Life Insurance Co NY boosted its holdings in shares of AMC Entertainment by 110,075.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 110,175 shares of the company’s stock valued at $6,245,000 after acquiring an additional 110,075 shares during the period. Institutional investors own 24.90% of the company’s stock.

AMC Entertainment Company Profile (NYSE:AMC)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

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