Zacks Investment Research Downgrades AMC Entertainment (NYSE:AMC) to Sell

Zacks Investment Research lowered shares of AMC Entertainment (NYSE:AMC) from a hold rating to a sell rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “

Several other analysts have also recently issued reports on AMC. Wedbush cut AMC Entertainment from a neutral rating to an underperform rating and raised their target price for the stock from $5.44 to $7.50 in a research note on Thursday, November 4th. Citigroup raised their target price on AMC Entertainment from $5.00 to $6.00 and gave the stock a sell rating in a research note on Wednesday, November 17th. Seven analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of Sell and an average target price of $12.08.

NYSE AMC opened at $20.57 on Tuesday. AMC Entertainment has a 1 year low of $2.18 and a 1 year high of $72.62. The business’s 50-day moving average is $31.14 and its 200 day moving average is $37.09.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Monday, November 8th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.09. The business had revenue of $763.20 million during the quarter, compared to the consensus estimate of $742.15 million. The firm’s revenue for the quarter was up 538.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($5.70) earnings per share. As a group, analysts anticipate that AMC Entertainment will post -2.68 EPS for the current fiscal year.

In other news, EVP Elizabeth F. Frank sold 46,165 shares of AMC Entertainment stock in a transaction that occurred on Monday, January 10th. The shares were sold at an average price of $22.42, for a total transaction of $1,035,019.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin M. Connor sold 11,791 shares of AMC Entertainment stock in a transaction that occurred on Thursday, December 30th. The shares were sold at an average price of $27.91, for a total transaction of $329,086.81. The disclosure for this sale can be found here. Insiders sold 1,801,654 shares of company stock valued at $59,728,634 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY lifted its holdings in shares of AMC Entertainment by 110,075.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 110,175 shares of the company’s stock valued at $6,245,000 after purchasing an additional 110,075 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of AMC Entertainment by 2.2% during the second quarter. BNP Paribas Arbitrage SA now owns 284,995 shares of the company’s stock valued at $16,154,000 after purchasing an additional 6,085 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of AMC Entertainment during the third quarter valued at approximately $1,108,000. Deutsche Bank AG lifted its holdings in shares of AMC Entertainment by 125.0% during the third quarter. Deutsche Bank AG now owns 724,491 shares of the company’s stock valued at $27,574,000 after purchasing an additional 402,477 shares during the last quarter. Finally, Prosperity Planning Inc. lifted its holdings in shares of AMC Entertainment by 3.5% during the third quarter. Prosperity Planning Inc. now owns 92,318 shares of the company’s stock valued at $3,514,000 after purchasing an additional 3,139 shares during the last quarter. Hedge funds and other institutional investors own 31.41% of the company’s stock.

AMC Entertainment Company Profile

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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