AMC Entertainment (NYSE:AMC) Shares Gap Down – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped down before the market opened on Friday . The stock had previously closed at $5.20, but opened at $4.83. AMC Entertainment shares last traded at $4.79, with a volume of 14,612,982 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMC. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research note on Tuesday, November 12th. Morgan Stanley lowered their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Macquarie reissued an “underperform” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research note on Wednesday, November 13th. B. Riley reduced their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $5.44.

AMC Entertainment Stock Down 9.0 %

The stock has a fifty day moving average of $4.48 and a two-hundred day moving average of $4.78. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -2.94 and a beta of 1.85.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. AMC Entertainment’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, research analysts expect that AMC Entertainment Holdings, Inc. will post -1.42 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of AMC Entertainment by 24.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,620 shares of the company’s stock valued at $245,000 after acquiring an additional 12,975 shares during the period. SG Americas Securities LLC increased its stake in AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after purchasing an additional 1,064,805 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in AMC Entertainment during the second quarter worth $90,000. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 522,063 shares during the last quarter. Finally, Skylands Capital LLC purchased a new stake in AMC Entertainment during the second quarter worth $50,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.