AMC Entertainment (NYSE:AMC) Shares Gap Down - Should You Sell?

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.10, but opened at $2.91. AMC Entertainment shares last traded at $2.91, with a volume of 8,115,157 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMC. Benchmark reiterated a "hold" rating on shares of AMC Entertainment in a research report on Monday, March 3rd. B. Riley started coverage on AMC Entertainment in a research report on Friday, May 16th. They set a "neutral" rating and a $3.00 price target for the company. Roth Mkm reduced their price target on AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Citigroup reiterated a "sell" rating and set a $2.60 price objective (up previously from $2.30) on shares of AMC Entertainment in a research note on Thursday, May 29th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.26.

AMC Entertainment Trading Down 9.0%

The stock has a market cap of $1.22 billion, a PE ratio of -2.88 and a beta of 1.44. The business has a 50-day moving average price of $3.03 and a 200 day moving average price of $3.22.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.03. The firm had revenue of $862.50 million for the quarter, compared to the consensus estimate of $983.23 million. AMC Entertainment's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.62) earnings per share. On average, equities analysts predict that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds have recently bought and sold shares of AMC. Legacy Financial Strategies LLC bought a new position in AMC Entertainment in the 1st quarter worth approximately $29,000. Ground Swell Capital LLC purchased a new position in shares of AMC Entertainment during the first quarter valued at $30,000. Sowell Financial Services LLC bought a new stake in AMC Entertainment during the first quarter valued at about $36,000. Sterling Capital Management LLC boosted its holdings in AMC Entertainment by 831.5% in the fourth quarter. Sterling Capital Management LLC now owns 10,843 shares of the company's stock worth $43,000 after acquiring an additional 9,679 shares in the last quarter. Finally, Abacus Planning Group Inc. acquired a new stake in AMC Entertainment in the first quarter worth about $47,000. Hedge funds and other institutional investors 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.