AMC Entertainment (NYSE:AMC) Shares Gap Down to $3.41

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped down before the market opened on Monday . The stock had previously closed at $3.41, but opened at $3.33. AMC Entertainment shares last traded at $3.11, with a volume of 4,458,270 shares.

Analyst Ratings Changes

AMC has been the topic of several recent research reports. B. Riley reduced their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Wedbush restated a “neutral” rating and issued a $4.00 target price on shares of AMC Entertainment in a research note on Monday. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, AMC Entertainment currently has a consensus rating of “Reduce” and an average target price of $5.95.

AMC Entertainment Stock Performance

The firm has a market cap of $803.00 million, a P/E ratio of -1.32 and a beta of 1.62. The stock has a fifty day simple moving average of $3.83 and a 200 day simple moving average of $5.66.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Research analysts predict that AMC Entertainment Holdings, Inc. will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its position in shares of AMC Entertainment by 43.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 16,663 shares of the company’s stock valued at $102,000 after acquiring an additional 5,070 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of AMC Entertainment in the fourth quarter worth about $34,000. Exchange Traded Concepts LLC lifted its position in shares of AMC Entertainment by 63.5% in the third quarter. Exchange Traded Concepts LLC now owns 14,806 shares of the company’s stock worth $118,000 after buying an additional 5,748 shares in the last quarter. Blueshift Asset Management LLC lifted its position in shares of AMC Entertainment by 13.2% in the third quarter. Blueshift Asset Management LLC now owns 53,008 shares of the company’s stock worth $424,000 after buying an additional 6,163 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of AMC Entertainment by 31.2% in the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock worth $168,000 after buying an additional 6,525 shares in the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.