AMC Entertainment (NYSE:AMC) Reaches New 52-Week Low at $2.38

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $2.38 and last traded at $2.48, with a volume of 2346685 shares traded. The stock had previously closed at $2.47.

Analyst Ratings Changes

Several research firms have weighed in on AMC. 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 research note on Thursday, February 29th. Wedbush reissued a “neutral” rating and issued a $6.00 price target on shares of AMC Entertainment in a research note on Friday, February 23rd. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $6.35.

AMC Entertainment Price Performance

The stock has a market capitalization of $780.63 million, a P/E ratio of -1.27 and a beta of 1.62. The firm’s 50 day moving average price is $4.03 and its 200 day moving average price is $5.99.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. On average, equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after buying an additional 6,577,228 shares during the period. Invesco Ltd. increased its position in shares of AMC Entertainment by 418.4% during the first quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock valued at $64,934,000 after buying an additional 2,126,916 shares during the period. Norges Bank purchased a new position in shares of AMC Entertainment during the fourth quarter valued at about $12,605,000. Marshall Wace LLP purchased a new position in shares of AMC Entertainment during the second quarter valued at about $6,406,000. Finally, SG Americas Securities LLC increased its position in shares of AMC Entertainment by 3,234.8% during the third quarter. SG Americas Securities LLC now owns 1,274,309 shares of the company’s stock valued at $10,182,000 after buying an additional 1,236,097 shares during the period. 28.80% of the stock is owned by institutional investors.

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.