AMC Entertainment (NYSE:AMC) Shares Gap Up - Should You Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $3.00, but opened at $3.23. AMC Entertainment shares last traded at $3.32, with a volume of 7,200,000 shares.

Analyst Upgrades and Downgrades

AMC has been the topic of several research reports. Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $3.00 to $4.00 in a report on Friday. Citigroup restated a "sell" rating and set a $2.60 price target (up from $2.30) on shares of AMC Entertainment in a report on Thursday, May 29th. Roth Mkm reduced their price target on AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, B. Riley began coverage on AMC Entertainment in a research note on Friday, May 16th. They issued a "neutral" rating and a $3.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.26.

AMC Entertainment Stock Up 9.5%

The stock has a 50 day moving average of $3.06 and a 200 day moving average of $3.16. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.35 and a beta of 1.43.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.03. The business had revenue of $862.50 million during the quarter, compared to analyst estimates of $983.23 million. During the same period last year, the firm posted ($0.62) earnings per share. AMC Entertainment's quarterly revenue was down 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. Legacy Financial Strategies LLC acquired a new position in shares of AMC Entertainment during the first quarter worth approximately $29,000. Ground Swell Capital LLC acquired a new position in shares of AMC Entertainment during the first quarter worth approximately $30,000. Sterling Capital Management LLC raised its position in shares of AMC Entertainment by 831.5% during the fourth quarter. Sterling Capital Management LLC now owns 10,843 shares of the company's stock worth $43,000 after purchasing an additional 9,679 shares during the period. Sowell Financial Services LLC acquired a new position in shares of AMC Entertainment during the first quarter worth approximately $36,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of AMC Entertainment by 68.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 15,947 shares of the company's stock worth $63,000 after purchasing an additional 6,473 shares during the period. 28.80% of the stock is 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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