AMC Entertainment (NYSE:AMC) Shares Gap Up - Here's Why

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.24, but opened at $3.47. AMC Entertainment shares last traded at $3.54, with a volume of 7,595,949 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMC. Roth Mkm dropped their target price on shares of AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Citigroup reissued a "sell" rating and set a $2.60 target price (up from $2.30) on shares of AMC Entertainment in a report on Thursday. Roth Capital set a $3.25 target price on shares of AMC Entertainment in a report on Tuesday, February 4th. Wall Street Zen raised shares of AMC Entertainment to a "sell" rating in a report on Saturday, February 22nd. Finally, B. Riley started coverage on shares of AMC Entertainment in a report on Friday, May 16th. They set a "neutral" rating and a $3.00 target price on the stock. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $4.26.

AMC Entertainment Stock Performance

The stock's fifty day moving average is $2.88 and its two-hundred day moving average is $3.45. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -2.21 and a beta of 1.41.

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

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legacy Financial Strategies LLC bought a new position in AMC Entertainment in the 1st quarter valued at about $29,000. Ground Swell Capital LLC bought a new position in AMC Entertainment in the 1st quarter valued at about $30,000. Sowell Financial Services LLC bought a new position in AMC Entertainment in the 1st quarter valued at about $36,000. Sterling Capital Management LLC grew its position in AMC Entertainment by 831.5% in the 4th quarter. Sterling Capital Management LLC now owns 10,843 shares of the company's stock valued at $43,000 after buying an additional 9,679 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new position in AMC Entertainment in the 1st quarter valued at about $47,000. Institutional investors own 28.80% of the company's stock.

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.