Bank of America Corp DE Lowers Position in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Bank of America Corp DE trimmed its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) by 26.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,186,061 shares of the company's stock after selling 2,205,996 shares during the period. Bank of America Corp DE owned about 1.65% of AMC Entertainment worth $24,621,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AMC Entertainment by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 36,854,559 shares of the company's stock valued at $146,681,000 after acquiring an additional 1,558,554 shares during the last quarter. Northern Trust Corp lifted its stake in AMC Entertainment by 12.6% during the fourth quarter. Northern Trust Corp now owns 3,318,281 shares of the company's stock worth $13,207,000 after purchasing an additional 370,408 shares during the last quarter. KBC Group NV boosted its holdings in AMC Entertainment by 7,771.5% in the fourth quarter. KBC Group NV now owns 648,141 shares of the company's stock valued at $2,580,000 after purchasing an additional 639,907 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in AMC Entertainment in the fourth quarter valued at approximately $289,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in AMC Entertainment in the fourth quarter valued at approximately $1,191,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment Trading Up 10.6%

Shares of AMC traded up $0.31 during mid-day trading on Thursday, hitting $3.24. 18,967,041 shares of the company's stock were exchanged, compared to its average volume of 15,305,884. AMC Entertainment Holdings, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $5.96. The business's 50 day moving average is $2.82 and its two-hundred day moving average is $3.50. The firm has a market capitalization of $1.40 billion, a P/E ratio of -2.01 and a beta of 1.41.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. B. Riley initiated coverage on shares of AMC Entertainment in a report on Friday, May 16th. They issued a "neutral" rating and a $3.00 target price for the company. Benchmark restated a "hold" rating on shares of AMC Entertainment in a research note on Monday, March 3rd. Roth Capital set a $3.25 price objective on AMC Entertainment in a report on Tuesday, February 4th. Roth Mkm reduced their target price on AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup reissued a "sell" rating and issued a $2.30 target price (down from $2.80) on shares of AMC Entertainment in a research report on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $4.22.

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.