B. Riley Trims AMC Entertainment (NYSE:AMC) Target Price to $11.00

AMC Entertainment (NYSE:AMCGet Rating) had its price objective cut by B. Riley from $16.00 to $11.00 in a report issued on Tuesday morning, The Fly reports. They currently have a neutral rating on the stock.

Separately, StockNews.com assumed coverage on AMC Entertainment in a research note on Thursday, March 31st. They issued a sell rating for the company. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat.com, AMC Entertainment has an average rating of Reduce and an average target price of $8.17.

Shares of NYSE AMC opened at $12.05 on Tuesday. The business’s 50 day moving average price is $13.74 and its 200 day moving average price is $18.31. The firm has a market cap of $6.23 billion, a P/E ratio of -5.85 and a beta of 1.73. AMC Entertainment has a 52 week low of $9.70 and a 52 week high of $61.00.

AMC Entertainment (NYSE:AMCGet Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.11. The business had revenue of $785.70 million for the quarter, compared to analyst estimates of $736.23 million. The company’s quarterly revenue was up 429.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.42) earnings per share. As a group, sell-side analysts anticipate that AMC Entertainment will post -1.06 earnings per share for the current year.

In related news, CAO Chris A. Cox sold 14,931 shares of AMC Entertainment stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $28.80, for a total value of $430,012.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John D. Mcdonald sold 25,000 shares of AMC Entertainment stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $23.91, for a total value of $597,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,931 shares of company stock worth $1,625,963. 0.58% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its position in AMC Entertainment by 150.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,021 shares of the company’s stock worth $28,000 after purchasing an additional 613 shares in the last quarter. Covestor Ltd boosted its position in AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares in the last quarter. San Luis Wealth Advisors LLC purchased a new stake in AMC Entertainment during the first quarter worth $31,000. Point72 Hong Kong Ltd boosted its position in AMC Entertainment by 862.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,164 shares of the company’s stock worth $32,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Rockbridge Investment Management LCC boosted its position in AMC Entertainment by 136.9% during the fourth quarter. Rockbridge Investment Management LCC now owns 1,367 shares of the company’s stock worth $37,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

AMC Entertainment Company Profile (Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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