AMC Entertainment (NYSE:AMC) Stock Price Down 6.6% – Time to Sell?

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) were down 6.6% on Tuesday . The stock traded as low as $3.25 and last traded at $3.28. Approximately 15,525,908 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 11,274,383 shares. The stock had previously closed at $3.51.

Analysts Set New Price Targets

AMC has been the topic of several research reports. B. Riley cut their price target on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of AMC Entertainment in a research note on Thursday, November 7th. Macquarie reaffirmed an “underperform” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research note on Wednesday, November 13th. Finally, StockNews.com raised AMC Entertainment to a “sell” rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.44.

AMC Entertainment Stock Down 6.6 %

The stock has a market capitalization of $1.23 billion, a P/E ratio of -2.04 and a beta of 1.92. The company has a fifty day simple moving average of $4.36 and a two-hundred day simple moving average of $4.64.

AMC Entertainment (NYSE:AMC) last announced 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 analyst estimates of $1.33 billion. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) earnings per share. As a group, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of AMC Entertainment by 431.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,182,049 shares of the company’s stock valued at $5,378,000 after buying an additional 959,642 shares during the last quarter. Franklin Resources Inc. bought a new stake in AMC Entertainment during the third quarter worth $788,000. Sanctuary Advisors LLC acquired a new stake in AMC Entertainment in the third quarter valued at $72,000. Virtu Financial LLC acquired a new position in shares of AMC Entertainment during the 3rd quarter worth about $893,000. Finally, Geode Capital Management LLC raised its holdings in shares of AMC Entertainment by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock valued at $36,622,000 after purchasing an additional 866,757 shares during the period. Institutional investors and hedge funds own 28.80% of the company’s stock.

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.