AMC Entertainment (NYSE:AMC) Price Target Cut to $3.50 by Analysts at Wedbush

AMC Entertainment (NYSE:AMC) had its price objective dropped by Wedbush from $4.00 to $3.50 in a research report issued to clients and investors on Thursday, May 9th, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price target points to a potential downside of 19.91% from the company’s previous close.

Separately, B. Riley lowered their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.84.

AMC Entertainment Trading Up 0.5 %

NYSE:AMC traded up $0.02 during mid-day trading on Thursday, hitting $4.37. The stock had a trading volume of 2,672,523 shares, compared to its average volume of 26,331,838. The stock has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $4.64. The company has a market capitalization of $1.58 billion, a PE ratio of -3.00 and a beta of 1.83. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $11.88.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.43) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.43). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. AMC Entertainment’s quarterly revenue was down 23.1% compared to the same quarter last year. Sell-side analysts predict that AMC Entertainment will post -1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of AMC Entertainment by 48.3% in the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after purchasing an additional 6,577,228 shares in the last quarter. Norges Bank purchased a new stake in shares of AMC Entertainment during the fourth quarter valued at $12,605,000. Renaissance Technologies LLC lifted its holdings in shares of AMC Entertainment by 18.2% during the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after purchasing an additional 1,585,430 shares during the last quarter. Marshall Wace LLP purchased a new stake in AMC Entertainment in the 2nd quarter worth about $6,775,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in AMC Entertainment by 103.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock worth $337,000 after acquiring an additional 1,178,950 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors.

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.