AMC Entertainment (NYSE:AMC) Shares Down 3.5%

AMC Entertainment Holdings, Inc. (NYSE:AMC) traded down 3.5% during trading on Wednesday . The stock traded as low as $5.02 and last traded at $5.03. 7,799,759 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 36,917,750 shares. The stock had previously closed at $5.21.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on AMC Entertainment from $3.10 to $3.20 and gave the company a “sell” rating in a report on Tuesday, May 14th. Wedbush decreased their target price on AMC Entertainment from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, AMC Entertainment currently has an average rating of “Reduce” and an average price target of $5.54.

AMC Entertainment Price Performance

The company has a fifty day moving average of $4.45 and a 200-day moving average of $4.41. The firm has a market cap of $1.49 billion, a P/E ratio of -4.13 and a beta of 1.84.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.78) 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 analysts’ expectations of $951.40 million. On average, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of AMC. Russell Investments Group Ltd. bought a new stake in shares of AMC Entertainment in the fourth quarter worth $34,000. Mayflower Financial Advisors LLC bought a new position in AMC Entertainment during the first quarter valued at approximately $37,000. Powell Investment Advisors LLC purchased a new stake in AMC Entertainment during the first quarter valued at approximately $55,000. Tower Research Capital LLC TRC raised its holdings in shares of AMC Entertainment by 817.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,945 shares of the company’s stock worth $61,000 after buying an additional 8,861 shares during the period. Finally, Eudaimonia Partners LLC purchased a new stake in shares of AMC Entertainment in the fourth quarter worth approximately $71,000. Hedge funds and other 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.