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

AMC Entertainment (NYSE:AMC – Get Rating) had its objective price dropped by investment analysts at B. Riley from $16.00 to $11.00 in a research report issued to clients and investors on Tuesday, The Fly reports. B. Riley’s price objective indicates a potential downside of 12.21% from the stock’s previous close.

Separately, StockNews.com started coverage on AMC Entertainment in a research note on Thursday, March 31st. They issued a “sell” rating on the stock.

AMC stock opened at $12.53 on Tuesday. The business has a 50 day simple moving average of $14.08 and a 200-day simple moving average of $18.51. The firm 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 low of $9.70 and a 1 year high of $64.96.

AMC Entertainment (NYSE:AMC – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.11. The business had revenue of $785.70 million during the quarter, compared to analysts’ expectations of $736.23 million. During the same quarter in the previous year, the company posted ($1.42) earnings per share. The company’s revenue was up 429.8% on a year-over-year basis. Equities research analysts forecast that AMC Entertainment will post -1.06 earnings per share for the current fiscal year.

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In other news, EVP John D. McDonald sold 25,000 shares of AMC Entertainment stock in a transaction that occurred on Thursday, March 31st. 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 through this hyperlink. Also, EVP John D. McDonald sold 50,000 shares of AMC Entertainment stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $20.00, for a total value of $1,000,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,931 shares of company stock worth $2,625,963. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. Its stake grew in shares of AMC Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. Now owns 47,381,679 shares of the company’s stock valued at $1,167,484,000 after buying an additional 296,013 shares during the period. BlackRock Inc. lifted its holdings in shares of AMC Entertainment by 1.0% during the 1st quarter. BlackRock Inc. Now owns 43,321,127 shares of the company’s stock valued at $1,067,431,000 after acquiring an additional 428,358 shares in the last quarter. State Street Corp lifted its holdings in shares of AMC Entertainment by 0.8% during the 1st quarter. State Street Corp now owns 13,393,337 shares of the company’s stock valued at $330,012,000 after acquiring an additional 107,221 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AMC Entertainment by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company’s stock valued at $247,909,000 after acquiring an additional 423,548 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of AMC Entertainment by 0.3% during the 4th quarter. Northern Trust Corp now owns 5,795,137 shares of the company’s stock valued at $157,627,000 after acquiring an additional 15,617 shares in the last quarter. 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 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 headquartered in Leawood, Kansas.

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