AMC Entertainment (NYSE:AMC) Sees Strong Trading Volume - Here's What Happened

Key Points

• AMC Entertainment shares experienced strong trading volume, with approximately 10 million shares traded, a 16% decrease from the previous day, closing at $2.69.
• Analysts' ratings are mixed, with a consensus average rating of "Hold" and a price target of $3.33, reflecting varied perspectives on the stock's performance.
• The company reported a quarterly revenue of $1.40 billion, exceeding expectations, but missed the earnings per share estimate by a significant margin with a reported ($0.43) EPS.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 10,276,713 shares were traded during trading, a decline of 16% from the previous session's volume of 12,238,231 shares.The stock last traded at $2.69 and had previously closed at $2.73.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMC. Citigroup boosted their target price on shares of AMC Entertainment from $2.60 to $2.70 and gave the company a "sell" rating in a report on Tuesday, August 19th. Wall Street Zen upgraded shares of AMC Entertainment from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Zacks Research upgraded AMC Entertainment from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Weiss Ratings reiterated a "sell (e+)" rating on shares of AMC Entertainment in a report on Friday. Finally, Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $3.00 to $4.00 in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.33.

AMC Entertainment Price Performance

The business has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $2.97. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.02 and a beta of 1.25.

AMC Entertainment (NYSE:AMC - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.36). The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.30 billion. The company's quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.43) earnings per share. On average, equities research analysts predict that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current year.

Institutional Trading of AMC Entertainment

Several hedge funds have recently modified their holdings of the stock. Northern Trust Corp raised its position in AMC Entertainment by 6.7% in the 1st quarter. Northern Trust Corp now owns 3,540,656 shares of the company's stock valued at $10,162,000 after purchasing an additional 222,375 shares in the last quarter. Nuveen LLC acquired a new stake in AMC Entertainment in the first quarter valued at approximately $2,736,000. Graham Capital Management L.P. raised its holdings in AMC Entertainment by 272.7% in the first quarter. Graham Capital Management L.P. now owns 625,783 shares of the company's stock valued at $1,796,000 after acquiring an additional 457,856 shares in the last quarter. Brio Consultants LLC acquired a new stake in shares of AMC Entertainment in the 1st quarter valued at $281,000. Finally, Vanguard Group Inc. raised its holdings in shares of AMC Entertainment by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company's stock valued at $122,882,000 after purchasing an additional 5,961,337 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors and hedge funds.

AMC Entertainment Company Profile

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.

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