B. Riley lowers AMC Entertainment’s (NYSE:AMC) price target to $11.00
AMC Entertainment (NYSE: AMC – Get a Note) saw its price target lowered by investment analysts B. Riley from $16.00 to $11.00 in a research report released Tuesday to clients and investors, reports The Fly. B. Riley’s price target indicates a potential decline of 12.21% from the stock’s previous close.
Separately, StockNews.com began covering AMC Entertainment in a research note on Thursday, March 31. They issued a “sell” rating on the stock.
AMC stock opened at $12.53 on Tuesday. The company has a 50-day simple moving average of $14.08 and a 200-day simple moving average of $18.51. The company has a market capitalization of $6.48 billion, a PE ratio of -6.08 and a beta of 1.73. AMC Entertainment has a 1-year minimum of $9.70 and a 1-year maximum of $64.96.
AMC Entertainment (NYSE:AMC – Get Rating) last released quarterly earnings data on Monday, May 9. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.11. The company posted revenue of $785.70 million in the quarter, compared to $736.23 million expected by analysts. In the same quarter a year earlier, the company posted ($1.42) earnings per share. The company’s revenue increased by 429.8% year over year. Equity research analysts expect AMC Entertainment to post -1.06 earnings per share for the current fiscal year.
In other news, Executive Vice President John D. Mcdonald sold 25,000 shares of AMC Entertainment in a deal that took place on Thursday, March 31. The shares were sold at an average price of $23.91, for a total transaction of $597,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Executive Vice President John D. Mcdonald sold 50,000 shares of AMC Entertainment in a transaction that took place on Wednesday, March 23. The stock was sold at an average price of $20.00, for a total value of $1,000,000.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 109,931 shares of the company worth $2,625,963. Company insiders hold 0.58% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in the company. Vanguard Group Inc. increased its stake in AMC Entertainment shares by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 47,381,679 shares of the company valued at $1,167,484,000 after purchasing an additional 296,013 shares during the period. BlackRock Inc. increased its equity stake in AMC Entertainment by 1.0% during the 1st quarter. BlackRock Inc. now owns 43,321,127 shares of the company valued at $1,067,431,000 after acquiring an additional 428,358 shares last quarter. State Street Corp increased its stake in AMC Entertainment shares by 0.8% in the 1st quarter. State Street Corp now owns 13,393,337 shares of the company valued at $330,012,000 after acquiring an additional 107,221 shares last quarter. Geode Capital Management LLC increased its equity stake in AMC Entertainment by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company valued at $247,909,000 after acquiring an additional 423,548 shares last quarter. Finally, Northern Trust Corp increased its stake in AMC Entertainment shares by 0.3% during the 4th quarter. Northern Trust Corp now owns 5,795,137 shares of the company valued at $157,627,000 after acquiring an additional 15,617 shares last quarter. 34.20% of the shares are held by institutional investors.
AMC Entertainment Company Profile (Get a rating)
AMC Entertainment Holdings, Inc, through its subsidiaries, is engaged in the theatrical exhibition business. The company owns, operates or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is based in Leawood, Kansas.
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