AMC Entertainment Holdings, Inc. (NYSE:AMC) Sees Significant Drop in Short Interest

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 52,760,000 shares, a decline of 7.7% from the September 30th total of 57,180,000 shares. Approximately 14.2% of the company’s stock are sold short. Based on an average daily volume of 9,440,000 shares, the days-to-cover ratio is currently 5.6 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMC. Vanguard Group Inc. grew its position in shares of AMC Entertainment by 22.9% in the first quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock valued at $92,273,000 after purchasing an additional 4,617,007 shares during the last quarter. Renaissance Technologies LLC boosted its stake in AMC Entertainment by 18.2% in the 2nd 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 period. Marshall Wace LLP acquired a new position in AMC Entertainment in the 2nd quarter valued at $6,775,000. SG Americas Securities LLC increased its position in AMC Entertainment by 1,894.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock worth $5,583,000 after buying an additional 1,064,805 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AMC Entertainment by 92.5% during the second quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock worth $5,411,000 after buying an additional 522,063 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMC shares. Macquarie raised their target price on shares of AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a research report on Tuesday, July 9th. Morgan Stanley decreased their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a report on Monday, August 5th. Finally, Wedbush restated a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, AMC Entertainment currently has a consensus rating of “Hold” and a consensus target price of $5.84.

AMC Entertainment Trading Down 3.4 %

Shares of AMC traded down $0.15 during midday trading on Thursday, reaching $4.41. The stock had a trading volume of 5,826,751 shares, compared to its average volume of 26,645,100. The firm has a market cap of $1.30 billion, a PE ratio of -3.47 and a beta of 1.80. The firm has a 50 day simple moving average of $4.58 and a 200-day simple moving average of $4.59. AMC Entertainment has a one year low of $2.38 and a one year high of $11.88.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.43) EPS for the quarter, meeting the consensus estimate of ($0.43). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. The company’s quarterly revenue was down 23.1% compared to the same quarter last year. As a group, research analysts forecast that AMC Entertainment will post -1.34 EPS for the current fiscal year.

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.