AMC Entertainment (NYSE:AMC) Trading Up 8.1% - Time to Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) shares were up 8.1% on Thursday . The stock traded as high as $3.45 and last traded at $3.44. Approximately 11,527,045 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 11,319,518 shares. The stock had previously closed at $3.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. B. Riley assumed coverage on shares of AMC Entertainment in a research note on Friday, May 16th. They issued a "neutral" rating and a $3.00 price target on the stock. 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. Wedbush upgraded shares of AMC Entertainment from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $3.00 to $4.00 in a report on Friday, July 11th. Finally, Citigroup reiterated a "sell" rating and set a $2.60 target price (up from $2.30) on shares of AMC Entertainment in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, AMC Entertainment presently has a consensus rating of "Hold" and a consensus price target of $4.26.

AMC Entertainment Stock Performance

The firm's 50 day simple moving average is $3.14 and its 200-day simple moving average is $3.14. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -3.59 and a beta of 1.43.

AMC Entertainment (NYSE:AMC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.03. The company had revenue of $862.50 million for the quarter, compared to analysts' expectations of $983.23 million. The firm's revenue was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.62) EPS. As a group, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of AMC. Vanguard Group Inc. grew its position in shares of AMC Entertainment by 16.2% during the first quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company's stock worth $122,882,000 after buying an additional 5,961,337 shares in the last quarter. Geode Capital Management LLC grew its position in shares of AMC Entertainment by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 8,271,059 shares of the company's stock worth $32,927,000 after buying an additional 223,877 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of AMC Entertainment by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,074,378 shares of the company's stock worth $11,693,000 after buying an additional 41,859 shares in the last quarter. Northern Trust Corp grew its position in shares of AMC Entertainment by 6.7% during the first quarter. Northern Trust Corp now owns 3,540,656 shares of the company's stock worth $10,162,000 after buying an additional 222,375 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of AMC Entertainment by 85.4% during the fourth quarter. Marshall Wace LLP now owns 2,801,788 shares of the company's stock worth $11,151,000 after buying an additional 1,290,376 shares in the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Entertainment

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.