AMC Entertainment (NYSE:AMC) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• AMC Entertainment experienced a significant increase in trading volume, with 15,575,074 shares traded on Friday, a rise of 47% from the previous day's volume.
• Citigroup raised its price target on AMC shares from $2.60 to $2.70, maintaining a "sell" rating, while Wedbush upgraded their rating from "neutral" to "outperform" with a new target of $4.00.
• Institutional investors, including Deutsche Bank AG and Northern Trust Corp, have increased their stakes in AMC Entertainment, reflecting growing interest in the company's stock.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 15,575,074 shares were traded during trading, an increase of 47% from the previous session's volume of 10,600,499 shares.The stock last traded at $2.96 and had previously closed at $2.84.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMC shares. Citigroup raised their price objective 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 research report on Saturday, August 16th. Finally, Wedbush raised AMC Entertainment from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $3.00 to $4.00 in a research note on Friday, July 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AMC Entertainment presently has a consensus rating of "Hold" and a consensus target price of $3.33.

AMC Entertainment Price Performance

The firm has a market cap of $1.54 billion, a P/E ratio of -3.38 and a beta of 1.35. The company's 50 day moving average is $2.98 and its two-hundred day moving average is $2.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMC. Total Investment Management Inc. purchased a new stake in shares of AMC Entertainment in the 2nd quarter valued at $27,000. Pitcairn Co. bought a new position in AMC Entertainment in the second quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in AMC Entertainment in the 2nd quarter worth approximately $447,000. Tower Research Capital LLC TRC raised its stake in AMC Entertainment by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 43,740 shares of the company's stock valued at $136,000 after purchasing an additional 31,096 shares during the last quarter. Finally, Man Group plc acquired a new position in AMC Entertainment in the 2nd quarter valued at about $1,800,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.