AMC Entertainment Holdings Inc (NYSE:AMC) saw a large increase in short interest during the month of December. As of December 29th, there was short interest totalling 20,259,697 shares, an increase of 13.6% from the December 15th total of 17,828,696 shares. Based on an average daily trading volume, of 2,624,537 shares, the days-to-cover ratio is presently 7.7 days. Approximately 42.3% of the company’s stock are sold short.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded AMC Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. B. Riley reissued a “buy” rating and issued a $30.00 price objective (down previously from $30.50) on shares of AMC Entertainment in a report on Tuesday, November 7th. Wedbush set a $19.00 price objective on AMC Entertainment and gave the company a “buy” rating in a report on Monday, January 8th. Credit Suisse Group cut their price objective on AMC Entertainment from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Tuesday, November 7th. Finally, Royal Bank of Canada downgraded AMC Entertainment from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.23.
Shares of AMC Entertainment (NYSE AMC) opened at $13.40 on Friday. AMC Entertainment has a twelve month low of $10.80 and a twelve month high of $34.90. The stock has a market capitalization of $1,730.00, a price-to-earnings ratio of -10.23 and a beta of 1.37. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.01.
A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its holdings in AMC Entertainment by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 13,118 shares of the company’s stock valued at $301,000 after purchasing an additional 337 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in AMC Entertainment by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after purchasing an additional 372 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in AMC Entertainment by 12.0% during the 2nd quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after purchasing an additional 601 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in AMC Entertainment by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 445,078 shares of the company’s stock valued at $10,126,000 after purchasing an additional 4,485 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of AMC Entertainment during the second quarter worth $125,000. 48.60% of the stock is owned by institutional investors and hedge funds.
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About AMC Entertainment
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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