Wedbush Trims AMC Entertainment (NYSE:AMC) Target Price to $4.00

AMC Entertainment (NYSE:AMC - Free Report) had its price objective lowered by Wedbush from $6.00 to $4.00 in a report published on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the stock.

Separately, B. Riley lowered their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a neutral rating for the company in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, AMC Entertainment presently has a consensus rating of Reduce and an average price target of $5.95.

AMC Entertainment Stock Performance

Shares of AMC stock traded down $0.05 on Thursday, hitting $2.93. 13,887,570 shares of the company's stock traded hands, compared to its average volume of 15,306,851. The stock has a market capitalization of $771.41 million, a price-to-earnings ratio of -1.24 and a beta of 1.62. The company's fifty day simple moving average is $4.01 and its 200 day simple moving average is $5.97. AMC Entertainment has a one year low of $2.38 and a one year high of $62.30.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping analysts' consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. As a group, sell-side analysts anticipate that AMC Entertainment will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in AMC. American Century Companies Inc. increased its position in AMC Entertainment by 17.5% during the 1st quarter. American Century Companies Inc. now owns 20,312 shares of the company's stock valued at $500,000 after purchasing an additional 3,020 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of AMC Entertainment by 49.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company's stock valued at $1,097,000 after buying an additional 14,732 shares during the period. Panagora Asset Management Inc. lifted its holdings in AMC Entertainment by 141.2% in the first quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company's stock worth $1,238,000 after buying an additional 29,413 shares during the period. Cibc World Market Inc. purchased a new stake in AMC Entertainment in the first quarter worth about $321,000. Finally, Prudential PLC purchased a new position in shares of AMC Entertainment during the 1st quarter worth approximately $275,000. Institutional investors own 28.80% of the company's stock.

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.