AMC Entertainment (NYSE:AMC) Stock Price Down 5.3%

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares fell 5.3% on Wednesday . The stock traded as low as $3.20 and last traded at $3.21. 10,299,141 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 15,571,496 shares. The stock had previously closed at $3.39.

Analyst Ratings Changes

Several research firms have recently weighed in on AMC. Wedbush reduced their target price on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. B. Riley reduced their price objective on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $5.95.

AMC Entertainment Stock Performance

The firm has a market cap of $866.18 million, a PE ratio of -1.35 and a beta of 1.62. The stock’s 50 day simple moving average is $3.92 and its 200 day simple moving average is $5.80.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.63 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd raised its holdings in AMC Entertainment by 935.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock worth $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of AMC Entertainment in the 3rd quarter worth about $5,582,000. HBK Sorce Advisory LLC grew its position in shares of AMC Entertainment by 31.2% in the 4th quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock worth $168,000 after buying an additional 6,525 shares during the period. Oak Thistle LLC purchased a new stake in shares of AMC Entertainment in the 4th quarter worth about $459,000. Finally, Exchange Traded Concepts LLC grew its position in shares of AMC Entertainment by 63.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,806 shares of the company’s stock worth $118,000 after buying an additional 5,748 shares during the period. 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.