B. Riley Trims AMC Entertainment (NYSE:AMC) Target Price to $11.00

AMC Entertainment (NYSE:AMCGet Rating) had its price target cut by B. Riley from $16.00 to $11.00 in a report released on Tuesday, The Fly reports. They currently have a neutral rating on the stock.

Separately, StockNews.com initiated coverage on shares of AMC Entertainment in a research note on Thursday, March 31st. They set a sell rating for the company. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of Reduce and an average target price of $8.17.

Shares of NYSE:AMC opened at $12.05 on Tuesday. The company has a 50 day moving average of $13.74 and a 200 day moving average of $18.31. The stock has a market cap of $6.23 billion, a P/E ratio of -5.85 and a beta of 1.73. AMC Entertainment has a 12 month low of $9.70 and a 12 month high of $61.00.

AMC Entertainment (NYSE:AMCGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.11. The firm had revenue of $785.70 million for the quarter, compared to analysts’ expectations of $736.23 million. AMC Entertainment’s revenue was up 429.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.42) EPS. On average, equities analysts anticipate that AMC Entertainment will post -1.06 earnings per share for the current year.

In other news, EVP Elizabeth F. Frank sold 20,000 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $29.91, for a total value of $598,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John D. Mcdonald sold 25,000 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $23.91, for a total transaction of $597,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 59,931 shares of company stock valued at $1,625,963. Corporate insiders own 0.58% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of AMC Entertainment by 1.3% in the 4th quarter. State Street Corp now owns 13,286,116 shares of the company’s stock valued at $361,382,000 after purchasing an additional 171,759 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in AMC Entertainment by 862.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,164 shares of the company’s stock valued at $32,000 after buying an additional 1,043 shares during the last quarter. Franklin Resources Inc. bought a new stake in AMC Entertainment during the 3rd quarter valued at $609,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in AMC Entertainment by 9.3% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 121,648 shares of the company’s stock valued at $3,226,000 after buying an additional 10,348 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in AMC Entertainment during the 4th quarter valued at $2,546,000. 34.20% of the stock is owned by institutional investors.

AMC Entertainment Company Profile (Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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