AMC Entertainment (NYSE:AMC) Sets New 52-Week Low – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.11 and last traded at $2.1850, with a volume of 22546766 shares traded. The stock had previously closed at $2.17.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of AMC Entertainment in a report on Wednesday, October 8th. Wall Street Zen cut shares of AMC Entertainment from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Citigroup decreased their price target on AMC Entertainment from $2.70 to $2.30 and set a “sell” rating on the stock in a research report on Thursday, November 13th. Finally, Zacks Research cut AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, AMC Entertainment currently has a consensus rating of “Reduce” and an average price target of $3.26.

AMC Entertainment Price Performance

The stock’s 50 day simple moving average is $2.74 and its two-hundred day simple moving average is $2.94. The company has a market capitalization of $1.12 billion, a P/E ratio of -2.46 and a beta of 1.05.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.03). The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned ($0.04) earnings per share. AMC Entertainment’s revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

Large investors have recently made changes to their positions in the company. XTX Topco Ltd boosted its holdings in AMC Entertainment by 85.6% in the third quarter. XTX Topco Ltd now owns 424,479 shares of the company’s stock valued at $1,231,000 after acquiring an additional 195,720 shares during the last quarter. Voleon Capital Management LP bought a new position in shares of AMC Entertainment in the 3rd quarter valued at about $59,000. Focus Partners Wealth acquired a new stake in shares of AMC Entertainment during the 3rd quarter worth approximately $145,000. Brevan Howard Capital Management LP raised its stake in shares of AMC Entertainment by 41.0% during the third quarter. Brevan Howard Capital Management LP now owns 232,201 shares of the company’s stock worth $673,000 after buying an additional 67,576 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in AMC Entertainment by 248.6% in the third quarter. Raymond James Financial Inc. now owns 74,981 shares of the company’s stock valued at $217,000 after buying an additional 53,473 shares during the period. Institutional investors and hedge funds 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.