AMC Entertainment (NYSE:AMC) Issues Earnings Results

AMC Entertainment (NYSE:AMC) posted its earnings results on Wednesday. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.03), FiscalAI reports. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.21 billion. AMC Entertainment’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS.

AMC Entertainment Stock Down 6.7%

NYSE AMC traded down $0.18 on Friday, reaching $2.43. The company had a trading volume of 11,576,171 shares, compared to its average volume of 12,877,592. AMC Entertainment has a 52 week low of $2.40 and a 52 week high of $5.56. The stock’s 50 day moving average is $2.81 and its 200-day moving average is $2.95. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -2.72 and a beta of 1.05.

Institutional Trading of AMC Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pitcairn Co. bought a new position in AMC Entertainment during the 2nd quarter worth approximately $34,000. Tower Research Capital LLC TRC raised its holdings in AMC Entertainment by 245.9% in the second quarter. Tower Research Capital LLC TRC now owns 43,740 shares of the company’s stock worth $136,000 after purchasing an additional 31,096 shares during the period. Prudential Financial Inc. boosted its position in shares of AMC Entertainment by 89.6% during the second quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock worth $173,000 after purchasing an additional 26,310 shares in the last quarter. Sei Investments Co. grew its holdings in shares of AMC Entertainment by 327.4% in the 2nd quarter. Sei Investments Co. now owns 70,531 shares of the company’s stock valued at $219,000 after buying an additional 54,027 shares during the period. Finally, Walleye Capital LLC increased its position in shares of AMC Entertainment by 152.4% in the 2nd quarter. Walleye Capital LLC now owns 75,683 shares of the company’s stock valued at $235,000 after buying an additional 220,147 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMC has been the subject of a number of analyst reports. Wall Street Zen raised AMC Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Wedbush raised AMC Entertainment from a “neutral” rating to an “outperform” rating and raised their price target for the company from $3.00 to $4.00 in a report on Friday, July 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of AMC Entertainment in a report on Wednesday, October 8th. Citigroup raised their price objective on shares of AMC Entertainment from $2.60 to $2.70 and gave the company a “sell” rating in a research report on Tuesday, August 19th. Finally, Zacks Research raised shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.33.

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.