AMC Entertainment (NYSE:AMC – Get Free Report)‘s stock had its “underperform” rating reiterated by equities research analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $2.00 price target on the stock. Wedbush’s target price points to a potential downside of 45.50% from the stock’s current price. Wedbush also issued estimates for AMC Entertainment’s FY2023 earnings at ($0.26) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.17) EPS and FY2025 earnings at ($0.13) EPS.
A number of other research analysts have also recently weighed in on the stock. Citigroup reiterated a “sell” rating on shares of AMC Entertainment in a research report on Monday, July 3rd. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research report on Friday, May 12th. Finally, B. Riley reaffirmed a “neutral” rating and set a $4.50 target price on shares of AMC Entertainment in a research report on Monday. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $2.15.
Check Out Our Latest Report on AMC Entertainment
AMC Entertainment Stock Up 8.3 %
AMC Entertainment’s stock is set to reverse split on Thursday, August 24th. The 1-10 reverse split was announced on Monday, August 14th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, August 23rd.
Insider Transactions at AMC Entertainment
In other AMC Entertainment news, major shareholder Antara Capital Lp sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $1.60, for a total value of $1,600,000.00. Following the completion of the sale, the insider now owns 146,202,848 shares of the company’s stock, valued at $233,924,556.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 32,464,774 shares of company stock valued at $55,655,259. Corporate insiders own 0.30% of the company’s stock.
Institutional Trading of AMC Entertainment
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMC. Machina Capital S.A.S. acquired a new stake in AMC Entertainment during the 1st quarter worth about $26,000. Covestor Ltd boosted its position in AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in AMC Entertainment in the 4th quarter worth approximately $34,000. Exchange Traded Concepts LLC raised its position in shares of AMC Entertainment by 32.0% in the first quarter. Exchange Traded Concepts LLC now owns 8,156 shares of the company’s stock worth $41,000 after acquiring an additional 1,977 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of AMC Entertainment in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 26.07% of the company’s stock.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.
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