AMC Entertainment (NYSE:AMC) Trading Down 6.4%

AMC Entertainment Holdings, Inc. (NYSE:AMC) was down 6.4% on Wednesday . The company traded as low as $43.78 and last traded at $44.29. Approximately 283,007 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 144,749,359 shares. The stock had previously closed at $47.30.

A number of analysts have recently issued reports on AMC shares. Citigroup lifted their price objective on shares of AMC Entertainment from $3.70 to $5.00 and gave the company a “sell” rating in a research note on Thursday, August 19th. B. Riley downgraded AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Wednesday, May 26th. Zacks Investment Research lowered AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, July 22nd. Macquarie downgraded AMC Entertainment from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 1st. Finally, Wedbush reaffirmed a “hold” rating and issued a $7.50 price target on shares of AMC Entertainment in a report on Thursday, August 12th. Five analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Sell” and an average price target of $10.36.

The stock’s fifty day simple moving average is $39.65 and its two-hundred day simple moving average is $29.09. The company has a market capitalization of $23.77 billion, a price-to-earnings ratio of -2.76 and a beta of 1.27.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Sunday, August 8th. The company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.20. The business had revenue of $444.70 million for the quarter, compared to the consensus estimate of $382.11 million. During the same period in the prior year, the company earned ($5.44) EPS. AMC Entertainment’s quarterly revenue was up 2252.9% on a year-over-year basis. Equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -2.75 EPS for the current fiscal year.

In other news, CFO Sean D. Goodman sold 45,405 shares of the firm’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $34.79, for a total transaction of $1,579,639.95. Following the transaction, the chief financial officer now directly owns 111,300 shares of the company’s stock, valued at $3,872,127. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Stephen A. Colanero sold 2,495 shares of the company’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $60.84, for a total transaction of $151,795.80. Following the completion of the sale, the chief marketing officer now directly owns 91,384 shares of the company’s stock, valued at approximately $5,559,802.56. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC lifted its position in AMC Entertainment by 3.1% in the second quarter. Profund Advisors LLC now owns 11,959 shares of the company’s stock worth $678,000 after purchasing an additional 364 shares during the period. TCI Wealth Advisors Inc. lifted its holdings in shares of AMC Entertainment by 221.0% in the second quarter. TCI Wealth Advisors Inc. now owns 642 shares of the company’s stock valued at $36,000 after buying an additional 442 shares during the period. Wagner Wealth Management LLC bought a new position in AMC Entertainment during the second quarter valued at about $26,000. Samalin Investment Counsel LLC acquired a new position in AMC Entertainment during the second quarter worth about $27,000. Finally, Evolution Wealth Advisors LLC bought a new stake in AMC Entertainment in the second quarter worth about $28,000. Institutional investors and hedge funds own 24.90% of the company’s stock.

About AMC Entertainment (NYSE:AMC)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

Featured Story: Price Target

Receive News & Ratings for AMC Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.