AMC Entertainment (NYSE:AMC) Shares Down 6.8% – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares dropped 6.8% during mid-day trading on Monday . The company traded as low as $2.40 and last traded at $2.4150. 5,900,801 shares were traded during mid-day trading, a decline of 85% from the average session volume of 39,130,070 shares. The stock had previously closed at $2.59.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Texas Capital upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Roth Capital set a $1.50 price objective on shares of AMC Entertainment in a research report on Tuesday, May 19th. Finally, Benchmark reissued a “buy” rating and issued a $3.00 price objective (up from $2.50) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2.53.

AMC Entertainment Trading Down 5.2%

The company has a 50-day simple moving average of $2.22 and a 200 day simple moving average of $1.65. The company has a market cap of $2.19 billion, a P/E ratio of -2.29 and a beta of 2.06.

AMC Entertainment (NYSE:AMC) last released its earnings results on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Adam M. Aron acquired 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $1.38 per share, for a total transaction of $345,000.00. Following the acquisition, the chief executive officer directly owned 2,437,020 shares of the company’s stock, valued at $3,363,087.60. This represents a 11.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AMC Entertainment by 21.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 240,255 shares of the company’s stock valued at $690,000 after purchasing an additional 41,860 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AMC Entertainment by 30.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 710,181 shares of the company’s stock worth $2,038,000 after purchasing an additional 164,740 shares during the period. JPMorgan Chase & Co. raised its position in AMC Entertainment by 19.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,820,405 shares of the company’s stock valued at $5,643,000 after purchasing an additional 300,376 shares in the last quarter. Prudential Financial Inc. raised its position in AMC Entertainment by 89.6% during the 2nd quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock valued at $173,000 after purchasing an additional 26,310 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of AMC Entertainment by 9.2% in the 2nd quarter. Hsbc Holdings PLC now owns 102,506 shares of the company’s stock worth $315,000 after buying an additional 8,629 shares during the period. 28.80% of the stock is owned by hedge funds and other institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.