Short Interest in AMC Entertainment Holdings, Inc. (NYSE:AMC) Rises By 7.3%

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 53,050,000 shares, a growth of 7.3% from the November 30th total of 49,460,000 shares. Approximately 14.0% of the company’s shares are sold short. Based on an average daily volume of 12,570,000 shares, the days-to-cover ratio is currently 4.2 days.

AMC Entertainment Stock Performance

Shares of AMC stock opened at $3.98 on Thursday. AMC Entertainment has a one year low of $2.38 and a one year high of $11.88. The firm’s 50 day moving average price is $4.43 and its 200-day moving average price is $4.69. The firm has a market cap of $1.50 billion, a P/E ratio of -2.47 and a beta of 1.85.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts predict that AMC Entertainment will post -1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of AMC. JPMorgan Chase & Co. increased its stake in AMC Entertainment by 431.5% during the third quarter. JPMorgan Chase & Co. now owns 1,182,049 shares of the company’s stock worth $5,378,000 after purchasing an additional 959,642 shares during the period. Franklin Resources Inc. acquired a new position in shares of AMC Entertainment in the third quarter valued at approximately $788,000. Sanctuary Advisors LLC purchased a new stake in AMC Entertainment during the 3rd quarter worth approximately $72,000. Virtu Financial LLC acquired a new stake in AMC Entertainment during the 3rd quarter worth approximately $893,000. Finally, Geode Capital Management LLC boosted its position 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 during the period. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.