AMC Entertainment (NYSE:AMC) Given New $3.50 Price Target at Wedbush

AMC Entertainment (NYSE:AMC) had its price target dropped by research analysts at Wedbush from $4.00 to $3.50 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 9.72% from the stock’s previous close.

Separately, B. Riley reduced their price target on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $5.85.

AMC Entertainment Stock Performance

AMC stock opened at $3.19 on Thursday. AMC Entertainment has a 1 year low of $2.38 and a 1 year high of $62.30. The firm has a market cap of $839.86 million, a P/E ratio of -1.36 and a beta of 1.69. The stock has a 50-day simple moving average of $3.59 and a 200-day simple moving average of $5.33.

AMC Entertainment (NYSE:AMC) last posted 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, equities research analysts predict that AMC Entertainment will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its position in shares of AMC Entertainment by 56.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 26,041 shares of the company’s stock worth $97,000 after purchasing an additional 9,378 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $1,270,000. Capstone Investment Advisors LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $2,043,000. Mayflower Financial Advisors LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $37,000. Finally, Principal Financial Group Inc. raised its position in shares of AMC Entertainment by 50.6% during the 1st quarter. Principal Financial Group Inc. now owns 20,091 shares of the company’s stock worth $75,000 after purchasing an additional 6,748 shares during the period. Institutional investors own 28.80% of the company’s stock.

About AMC Entertainment

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.