AMC Entertainment (NYSE:AMC) Trading 7.5% Higher

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price shot up 7.5% during trading on Thursday . The company traded as high as $5.05 and last traded at $5.04. 7,612,790 shares were traded during trading, a decline of 78% from the average session volume of 35,062,699 shares. The stock had previously closed at $4.69.

Analyst Ratings Changes

AMC has been the subject of a number of recent research reports. Wedbush raised their target price on AMC Entertainment from $3.50 to $4.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup boosted their target price on AMC Entertainment from $3.10 to $3.20 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Finally, Macquarie boosted their price target on AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.37.

AMC Entertainment Price Performance

The company’s fifty day simple moving average is $4.97 and its 200-day simple moving average is $4.33. The firm has a market capitalization of $1.87 billion, a PE ratio of -4.08 and a beta of 1.84.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The business had revenue of $951.40 million for the quarter, compared to the consensus estimate of $951.40 million. As a group, equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in AMC Entertainment by 22.9% during the 1st quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after acquiring an additional 4,617,007 shares in the last quarter. Norges Bank acquired a new stake in AMC Entertainment during the 4th quarter worth $12,605,000. SG Americas Securities LLC raised its stake in AMC Entertainment by 1,894.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock worth $5,583,000 after acquiring an additional 1,064,805 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AMC Entertainment by 92.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock worth $5,411,000 after acquiring an additional 522,063 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in AMC Entertainment by 374.1% in the fourth quarter. Quadrature Capital Ltd now owns 818,077 shares of the company’s stock valued at $5,003,000 after purchasing an additional 645,541 shares during the period. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.