AMC Entertainment Holdings, Inc. (NYSE:AMC) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 73,820,000 shares, an increase of 49.7% from the March 15th total of 49,310,000 shares. Based on an average daily volume of 169,150,000 shares, the short-interest ratio is currently 0.4 days.
A number of equities research analysts have issued reports on the stock. B. Riley raised shares of AMC Entertainment from a "neutral" rating to a "buy" rating and boosted their target price for the company from $7.00 to $13.00 in a report on Monday, April 5th. MKM Partners lowered shares of AMC Entertainment from a "neutral" rating to a "sell" rating and set a $1.00 price objective for the company. in a research report on Monday, February 1st. Loop Capital reaffirmed a "sell" rating and set a $1.00 target price on shares of AMC Entertainment in a report on Wednesday, April 7th. Zacks Investment Research downgraded shares of AMC Entertainment from a "buy" rating to a "hold" rating in a report on Tuesday, March 30th. Finally, UBS Group initiated coverage on AMC Entertainment in a research note on Wednesday, March 10th. They set a "sell" rating for the company. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. AMC Entertainment has an average rating of "Hold" and a consensus price target of $5.00.
Shares of AMC traded down $0.57 during mid-day trading on Friday, reaching $9.33. The company had a trading volume of 40,608,953 shares, compared to its average volume of 158,606,688. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -0.27 and a beta of 2.48. The firm has a 50-day moving average price of $10.17 and a 200 day moving average price of $5.61. AMC Entertainment has a 52 week low of $1.91 and a 52 week high of $20.36.
AMC Entertainment (NYSE:AMC) last released its earnings results on Tuesday, March 9th. The company reported ($3.15) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($2.80) by ($0.35). The business had revenue of $162.50 million during the quarter, compared to analyst estimates of $141.31 million. During the same quarter last year, the business earned $0.35 earnings per share. The company's quarterly revenue was down 88.8% on a year-over-year basis. On average, research analysts anticipate that AMC Entertainment will post -16.59 earnings per share for the current year.
In other news, Director Lake Group L.L.C. Silver sold 33,317,145 shares of the company's stock in a transaction on Wednesday, January 27th. The stock was sold at an average price of $16.05, for a total transaction of $534,740,177.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin M. Connor sold 36,179 shares of AMC Entertainment stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $13.56, for a total value of $490,587.24. Following the completion of the sale, the senior vice president now directly owns 113,323 shares of the company's stock, valued at approximately $1,536,659.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,172,784 shares of company stock valued at $590,024,146. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Prosperity Planning Inc. purchased a new position in shares of AMC Entertainment in the first quarter worth $1,130,000. Marks Wealth LLC bought a new position in AMC Entertainment in the first quarter worth approximately $102,000. Spotlight Asset Group Inc. bought a new position in shares of AMC Entertainment during the 1st quarter valued at approximately $1,355,000. RVW Wealth LLC increased its stake in AMC Entertainment by 9.5% in the 1st quarter. RVW Wealth LLC now owns 32,488 shares of the company's stock worth $1,000,000 after buying an additional 2,832 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of AMC Entertainment by 53.4% during the fourth quarter. Hsbc Holdings PLC now owns 192,013 shares of the company's stock valued at $411,000 after buying an additional 66,810 shares during the last quarter. Institutional investors and hedge funds own 16.61% of the company's stock.
AMC Entertainment Company Profile
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.
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