AMC Entertainment (NYSE:AMC) Shares Gap Up - Time to 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 changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm decreased their price target on shares of AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. B. Riley started coverage on AMC Entertainment in a research report on Friday, May 16th. They set a "neutral" rating and a $3.00 target price on the stock. Citigroup reaffirmed a "sell" rating and issued a $2.60 price target (up previously from $2.30) on shares of AMC Entertainment in a report on Thursday, May 29th. Finally, Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $3.00 to $4.00 in a research report on Friday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $4.26.

AMC Entertainment Stock Down 0.8%

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.37 and a beta of 1.43. The company's 50-day moving average is $3.08 and its 200-day moving average is $3.15.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.61) by $0.03. The company had revenue of $862.50 million during the quarter, compared to analyst estimates of $983.23 million. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.62) earnings per share. On average, research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMC. Deutsche Bank AG boosted its stake in shares of AMC Entertainment by 51.3% in the 4th quarter. Deutsche Bank AG now owns 282,815 shares of the company's stock valued at $1,126,000 after purchasing an additional 95,834 shares in the last quarter. Vanguard Group Inc. boosted its position in AMC Entertainment by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 36,854,559 shares of the company's stock valued at $146,681,000 after buying an additional 1,558,554 shares in the last quarter. Northern Trust Corp boosted its position in AMC Entertainment by 12.6% in the fourth quarter. Northern Trust Corp now owns 3,318,281 shares of the company's stock valued at $13,207,000 after buying an additional 370,408 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in AMC Entertainment during the fourth quarter worth about $289,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of AMC Entertainment during the fourth quarter worth approximately $1,191,000. 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.