AMC Entertainment (NYSE:AMC) Sets New 1-Year Low at $7.59

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMCGet Rating) reached a new 52-week low on Friday . The stock traded as low as $7.59 and last traded at $7.72, with a volume of 220157 shares trading hands. The stock had previously closed at $7.85.

Wall Street Analysts Forecast Growth

AMC has been the topic of several analyst reports. MKM Partners cut their target price on AMC Entertainment to $0.50 in a research note on Tuesday, September 6th. B. Riley dropped their price target on AMC Entertainment from $4.00 to $2.75 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. Wedbush reiterated an “underperform” rating and issued a $1.00 target price on shares of AMC Entertainment in a research report on Tuesday, August 2nd. StockNews.com raised AMC Entertainment to a “sell” rating in a report on Wednesday, July 20th. Finally, The Goldman Sachs Group dropped their target price on shares of AMC Entertainment to $8.50 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.80.

AMC Entertainment Stock Performance

The company has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $4.89. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -4.94 and a beta of 1.60.

AMC Entertainment (NYSE:AMCGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company posted ($0.18) EPS. AMC Entertainment’s quarterly revenue was up 162.3% compared to the same quarter last year. As a group, equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.26 EPS for the current year.

AMC Entertainment Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 15th were paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Friday, August 12th.

Insider Transactions at AMC Entertainment

In other AMC Entertainment news, CAO Chris A. Cox sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $25.00, for a total value of $300,000.00. Following the transaction, the chief accounting officer now directly owns 1,250 shares of the company’s stock, valued at approximately $31,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its stake in AMC Entertainment by 16.8% during the 4th quarter. Raymond James & Associates now owns 14,642 shares of the company’s stock worth $398,000 after buying an additional 2,107 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of AMC Entertainment by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 57,359 shares of the company’s stock worth $1,561,000 after purchasing an additional 1,493 shares during the last quarter. abrdn plc grew its stake in shares of AMC Entertainment by 4.7% in the 4th quarter. abrdn plc now owns 55,886 shares of the company’s stock worth $1,520,000 after purchasing an additional 2,487 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of AMC Entertainment by 11.9% in the 4th quarter. Allianz Asset Management GmbH now owns 72,703 shares of the company’s stock worth $1,977,000 after purchasing an additional 7,757 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of AMC Entertainment by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company’s stock worth $247,909,000 after purchasing an additional 423,548 shares during the last quarter. 27.73% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

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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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