AMC Entertainment (NYSE:AMC) Sets New 1-Year Low – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.11 and last traded at $2.1850, with a volume of 22546766 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

A number of research firms recently commented on AMC. Zacks Research downgraded AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Wall Street Zen lowered AMC Entertainment from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Citigroup lowered their price target on AMC Entertainment from $2.70 to $2.30 and set a “sell” rating for the company in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, AMC Entertainment currently has an average rating of “Reduce” and a consensus price target of $3.26.

AMC Entertainment Stock Up 0.7%

The stock has a market capitalization of $1.12 billion, a P/E ratio of -2.46 and a beta of 1.05. The company has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $2.94.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.03). The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business earned ($0.04) EPS. AMC Entertainment’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current year.

Institutional Trading of AMC Entertainment

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its holdings in shares of AMC Entertainment by 761.8% in the third quarter. Jones Financial Companies Lllp now owns 8,480 shares of the company’s stock valued at $25,000 after buying an additional 7,496 shares during the period. Total Investment Management Inc. acquired a new position in AMC Entertainment in the 2nd quarter worth $27,000. Gradient Capital Advisors LLC bought a new position in AMC Entertainment during the 3rd quarter worth about $29,000. Ground Swell Capital LLC acquired a new stake in shares of AMC Entertainment in the 1st quarter valued at about $30,000. Finally, Sovereign Financial Group Inc. acquired a new stake in shares of AMC Entertainment in the 2nd quarter valued at about $32,000. 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.