AMC Entertainment Holdings, Inc. (NYSE:AMC) Sees Significant Drop in Short Interest

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 52,760,000 shares, a decline of 7.7% from the September 30th total of 57,180,000 shares. Based on an average trading volume of 9,440,000 shares, the short-interest ratio is presently 5.6 days. Approximately 14.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On AMC Entertainment

A number of hedge funds have recently modified their holdings of AMC. Vanguard Group Inc. increased its stake in AMC Entertainment by 48.3% during the 4th quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after purchasing an additional 6,577,228 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of AMC Entertainment by 18.2% during the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after acquiring an additional 1,585,430 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of AMC Entertainment during the second quarter worth $6,775,000. SG Americas Securities LLC lifted its position in AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after acquiring an additional 1,064,805 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in AMC Entertainment in the 1st quarter worth $2,842,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Price Performance

Shares of AMC stock traded down $0.15 during trading hours on Thursday, reaching $4.41. The company had a trading volume of 5,826,751 shares, compared to its average volume of 26,645,100. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $11.88. The company has a 50 day moving average of $4.58 and a 200 day moving average of $4.59. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -3.47 and a beta of 1.80.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. The company’s revenue was down 23.1% compared to the same quarter last year. As a group, sell-side analysts forecast that AMC Entertainment will post -1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on AMC shares. Macquarie increased their price target on shares of AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a research note on Tuesday, July 9th. Morgan Stanley decreased their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Monday, August 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.84.

About AMC Entertainment

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.