AMC Entertainment (NYSE:AMC) Hits New 52-Week Low – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.35 and last traded at $2.3750, with a volume of 9086278 shares trading hands. The stock had previously closed at $2.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMC shares. Wall Street Zen cut shares of AMC Entertainment from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Zacks Research lowered AMC Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 7th. Citigroup upped their price target on AMC Entertainment from $2.60 to $2.70 and gave the stock a “sell” rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $3.33.

AMC Entertainment Trading Down 3.9%

The company has a fifty day moving average price of $2.78 and a 200-day moving average price of $2.95. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -2.66 and a beta of 1.05.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMC. Jones Financial Companies Lllp increased its holdings in AMC Entertainment by 761.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,480 shares of the company’s stock worth $25,000 after acquiring an additional 7,496 shares in the last quarter. Total Investment Management Inc. purchased a new position in shares of AMC Entertainment in the second quarter valued at approximately $27,000. Gradient Capital Advisors LLC purchased a new stake in shares of AMC Entertainment during the third quarter worth approximately $29,000. Sovereign Financial Group Inc. acquired a new position in AMC Entertainment in the 2nd quarter valued at $32,000. Finally, Ground Swell Capital LLC acquired a new stake in AMC Entertainment during the 1st quarter worth $30,000. 28.80% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Company Profile

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.