Short Interest in AMC Entertainment Holdings, Inc. (NYSE:AMC) Decreases By 7.9%

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 48,610,000 shares, a decline of 7.9% from the October 15th total of 52,760,000 shares. Approximately 13.0% of the company’s stock are sold short. Based on an average daily volume of 8,720,000 shares, the days-to-cover ratio is currently 5.6 days.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. KBC Group NV acquired a new stake in shares of AMC Entertainment during the 3rd quarter worth about $37,000. Skylands Capital LLC bought a new position in AMC Entertainment in the 2nd quarter valued at about $50,000. Creative Planning acquired a new stake in AMC Entertainment during the third quarter worth approximately $48,000. Amalgamated Bank boosted its holdings in shares of AMC Entertainment by 31.5% during the third quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock worth $53,000 after acquiring an additional 2,771 shares during the period. Finally, Burns Matteson Capital Management LLC bought a new stake in shares of AMC Entertainment during the third quarter worth approximately $55,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Stock Performance

Shares of NYSE:AMC opened at $4.48 on Monday. AMC Entertainment has a 52-week low of $2.38 and a 52-week high of $11.88. The company has a market capitalization of $1.68 billion, a P/E ratio of -2.78 and a beta of 1.83. The company has a 50-day simple moving average of $4.48 and a 200 day simple moving average of $4.71.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned ($0.09) EPS. AMC Entertainment’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that AMC Entertainment will post -1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMC shares. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. B. Riley decreased their price objective on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Morgan Stanley dropped their target price on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Wedbush restated a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Finally, Macquarie reaffirmed an “underperform” rating and set a $4.00 price target on shares of AMC Entertainment in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $5.44.

AMC Entertainment Company Profile

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.