AMC Entertainment (NYSE:AMC) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded AMC Entertainment from “strong buy” to “hold.” Across analysts, the stock has a consensus “hold” rating and an average price target of $2.73.
• AMC reported quarterly earnings of $0.13 per share, beating the $0.09 estimate, while revenue of $1.71 billion topped expectations and rose 31.6% year over year.
• Institutional investors own 28.8% of AMC shares; several funds recently opened positions, and Fulcrum Asset Management substantially increased its holdings.

AMC Entertainment (NYSE:AMC - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday, Zacks reports.

AMC has been the topic of several other reports. UBS Group reaffirmed a "buy" rating on shares of AMC Entertainment in a report on Tuesday, July 21st. Texas Capital upgraded AMC Entertainment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Wedbush reissued an "outperform" rating and set a $4.00 price target (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Benchmark restated a "buy" rating and set a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. Finally, B. Riley Financial restated a "neutral" rating on shares of AMC Entertainment in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.73.

AMC Entertainment Trading Down 3.1%

Shares of NYSE AMC opened at $3.31 on Wednesday. The firm's fifty day moving average is $2.93 and its two-hundred day moving average is $2.05. AMC Entertainment has a 52-week low of $0.93 and a 52-week high of $3.77.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the previous year, the firm earned ($0.21) EPS. The firm's revenue for the quarter was up 31.6% compared to the same quarter last year. On average, research analysts forecast that AMC Entertainment will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP purchased a new position in shares of AMC Entertainment during the second quarter valued at approximately $8,343,000. WINTON GROUP Ltd bought a new position in shares of AMC Entertainment during the second quarter valued at approximately $969,000. Headlands Technologies LLC bought a new position in shares of AMC Entertainment during the second quarter valued at approximately $1,643,000. Fund 1 Investments LLC bought a new position in shares of AMC Entertainment during the second quarter valued at approximately $4,192,000. Finally, Fulcrum Asset Management LLP raised its holdings in shares of AMC Entertainment by 736.1% in the third quarter. Fulcrum Asset Management LLP now owns 1,033,874 shares of the company's stock worth $3,184,000 after buying an additional 910,214 shares during the period. Hedge funds and other institutional investors own 28.80% of the company's stock.

About AMC Entertainment

AMC Entertainment Holdings, Inc. operates movie theaters that show films and other content, including special-event programming. Its theaters offer services such as reserved seating, online ticketing, and food and beverage sales, with amenities and premium formats varying by location. The company serves audiences in the United States and Europe through brands including AMC, ODEON, and Nordic Cinema. Its history dates to 1920, when the Dubinsky brothers began operating theaters in the Kansas City area.

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