Tidal Investments LLC Trims Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Tidal Investments LLC cut its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,696 shares of the company’s stock after selling 2,988 shares during the quarter. Tidal Investments LLC’s holdings in AMC Entertainment were worth $112,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in AMC Entertainment in the 3rd quarter worth $72,000. Virtu Financial LLC purchased a new stake in shares of AMC Entertainment in the third quarter valued at $893,000. Geode Capital Management LLC lifted its stake in AMC Entertainment by 12.1% in the third quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock worth $36,622,000 after purchasing an additional 866,757 shares during the last quarter. XTX Topco Ltd purchased a new position in AMC Entertainment during the 3rd quarter valued at $484,000. Finally, State Street Corp boosted its stake in shares of AMC Entertainment by 14.6% during the third quarter. State Street Corp now owns 7,353,442 shares of the company’s stock valued at $33,458,000 after purchasing an additional 936,618 shares during the period. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Price Performance

Shares of AMC stock opened at $4.06 on Thursday. The stock’s fifty day moving average price is $4.47 and its 200 day moving average price is $4.73. AMC Entertainment Holdings, Inc. has a 1-year low of $2.38 and a 1-year high of $11.88. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -2.52 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

AMC has been the topic of several research reports. Macquarie restated an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a report on Wednesday, November 13th. StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. B. Riley dropped their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Benchmark reissued a “hold” rating on shares of AMC Entertainment in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.44.

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.