AMC Entertainment Holdings, Inc. (NYSE:AMC) Short Interest Update

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 48,720,000 shares, a drop of 8.2% from the December 15th total of 53,050,000 shares. Based on an average daily trading volume, of 12,750,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 12.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMC shares. B. Riley lowered their price target on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. Finally, Macquarie reiterated an “underperform” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.44.

Institutional Investors Weigh In On AMC Entertainment

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in shares of AMC Entertainment by 243.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 56,911 shares of the company’s stock valued at $283,000 after buying an additional 40,336 shares in the last quarter. Rhumbline Advisers raised its stake in shares of AMC Entertainment by 150.3% during the 2nd quarter. Rhumbline Advisers now owns 437,501 shares of the company’s stock valued at $2,179,000 after purchasing an additional 262,701 shares during the period. Victory Capital Management Inc. lifted its holdings in AMC Entertainment by 10.3% during the 2nd quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock worth $189,000 after purchasing an additional 3,553 shares in the last quarter. Hsbc Holdings PLC boosted its stake in AMC Entertainment by 76.6% in the 2nd quarter. Hsbc Holdings PLC now owns 33,042 shares of the company’s stock worth $164,000 after purchasing an additional 14,334 shares during the period. Finally, Xponance Inc. bought a new stake in shares of AMC Entertainment during the second quarter valued at about $88,000. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Stock Performance

NYSE:AMC traded down $0.09 on Friday, hitting $3.50. The stock had a trading volume of 16,104,425 shares, compared to its average volume of 11,634,622. The stock has a market cap of $1.31 billion, a P/E ratio of -2.17 and a beta of 1.92. The firm’s fifty day simple moving average is $4.28 and its two-hundred day simple moving average is $4.61. AMC Entertainment has a 1 year low of $2.38 and a 1 year high of $11.88.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts predict that AMC Entertainment will post -1.41 EPS for the current year.

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.