AMC Entertainment (NYSE:AMC) Shares Gap Down to $4.98

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $4.98, but opened at $4.87. AMC Entertainment shares last traded at $5.03, with a volume of 2,770,582 shares traded.

Analyst Upgrades and Downgrades

AMC has been the subject of several research reports. Wedbush lowered their price objective on shares of AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Citigroup upped their price target on AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research note on Tuesday, May 14th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $5.54.

AMC Entertainment Stock Performance

The firm has a fifty day moving average of $4.45 and a 200-day moving average of $4.41. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -4.11 and a beta of 1.84.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, May 8th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The firm had revenue of $951.40 million during the quarter, compared to analyst estimates of $951.40 million. On average, analysts predict that AMC Entertainment Holdings, Inc. will post -0.84 EPS for the current year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of AMC Entertainment by 22.9% during the first quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after acquiring an additional 4,617,007 shares during the last quarter. Norges Bank acquired a new position in AMC Entertainment during the 4th quarter worth $12,605,000. Quadrature Capital Ltd increased its position in shares of AMC Entertainment by 374.1% in the 4th quarter. Quadrature Capital Ltd now owns 818,077 shares of the company’s stock worth $5,003,000 after purchasing an additional 645,541 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of AMC Entertainment by 935.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Finally, Boulder Hill Capital Management LP bought a new position in shares of AMC Entertainment during the first quarter worth about $2,842,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

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.