AMC Entertainment Holdings, Inc. (NYSE:AMC) Sees Large Decrease in Short Interest

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 48,720,000 shares, a drop of 8.2% from the December 15th total of 53,050,000 shares. Based on an average daily trading volume, of 12,750,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 12.8% of the shares of the stock are sold short.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Macquarie reaffirmed an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research note on Thursday, November 7th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a research note on Tuesday, November 12th. Finally, B. Riley decreased their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.44.

Institutional Trading of AMC Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of AMC. Charles Schwab Investment Management Inc. boosted its holdings in shares of AMC Entertainment by 153.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock valued at $16,860,000 after acquiring an additional 2,243,052 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of AMC Entertainment during the second quarter worth approximately $6,775,000. JPMorgan Chase & Co. lifted its stake in shares of AMC Entertainment by 431.5% in the third quarter. JPMorgan Chase & Co. now owns 1,182,049 shares of the company’s stock worth $5,378,000 after buying an additional 959,642 shares in the last quarter. State Street Corp boosted its holdings in shares of AMC Entertainment by 14.6% during the 3rd quarter. State Street Corp now owns 7,353,442 shares of the company’s stock worth $33,458,000 after purchasing an additional 936,618 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in AMC Entertainment by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock valued at $36,622,000 after buying an additional 866,757 shares in the last quarter. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Stock Down 2.4 %

AMC stock opened at $3.50 on Monday. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $11.88. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -2.17 and a beta of 1.92. The firm’s fifty day simple moving average is $4.28 and its two-hundred day simple moving average is $4.60.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, equities research analysts expect that AMC Entertainment will post -1.41 EPS for the current year.

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.