Zacks Investment Research Downgrades AMC Entertainment (NYSE:AMC) to Hold

AMC Entertainment (NYSE:AMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “

AMC has been the topic of several other reports. Loop Capital reissued a “sell” rating and issued a $1.00 price objective on shares of AMC Entertainment in a research report on Wednesday, April 7th. B. Riley lowered AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 26th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.83.

Shares of AMC traded down $3.48 on Thursday, reaching $37.30. The stock had a trading volume of 1,790,257 shares, compared to its average volume of 95,043,840. The company’s 50-day moving average is $41.06. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of -1.74 and a beta of 1.28. AMC Entertainment has a twelve month low of $1.91 and a twelve month high of $72.62.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, May 5th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.12). The firm had revenue of $148.30 million during the quarter, compared to analyst estimates of $161.18 million. During the same quarter last year, the business earned ($2.22) EPS. The firm’s revenue was down 84.2% on a year-over-year basis. As a group, equities research analysts anticipate that AMC Entertainment will post -3.23 EPS for the current fiscal year.

In other AMC Entertainment news, CMO Stephen A. Colanero sold 15,000 shares of AMC Entertainment stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $27.42, for a total value of $411,300.00. Following the completion of the transaction, the chief marketing officer now directly owns 93,879 shares in the company, valued at $2,574,162.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathleen M. Pawlus sold 14,495 shares of AMC Entertainment stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $13.87, for a total value of $201,045.65. Following the sale, the director now directly owns 33,101 shares in the company, valued at approximately $459,110.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,415 shares of company stock worth $6,454,999. Corporate insiders own 0.58% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. grew its position in AMC Entertainment by 281.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock worth $30,000 after purchasing an additional 2,140 shares in the last quarter. Glassman Wealth Services grew its position in AMC Entertainment by 207.6% during the 1st quarter. Glassman Wealth Services now owns 3,156 shares of the company’s stock worth $32,000 after purchasing an additional 2,130 shares in the last quarter. Golden Green Inc. purchased a new position in AMC Entertainment during the 2nd quarter worth approximately $219,000. Sowell Financial Services LLC grew its position in AMC Entertainment by 44.4% during the 1st quarter. Sowell Financial Services LLC now owns 4,332 shares of the company’s stock worth $39,000 after purchasing an additional 1,332 shares in the last quarter. Finally, US Bancorp DE purchased a new position in shares of AMC Entertainment during the 1st quarter valued at $45,000. 25.56% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Entertainment

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 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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