AMC Entertainment (NYSE:AMC) Trading 8.1% Higher - Here's What Happened

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMC. Wedbush raised shares of AMC Entertainment from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $3.00 to $4.00 in a research note on Friday, July 11th. Roth Mkm dropped their price objective on shares of AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Citigroup reissued a "sell" rating and set a $2.60 target price (up previously from $2.30) on shares of AMC Entertainment in a research report on Thursday, May 29th. Finally, B. Riley started 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $4.26.

AMC Entertainment Stock Down 2.4%

The stock has a market cap of $1.49 billion, a PE ratio of -3.53 and a beta of 1.43. The stock has a fifty day moving average of $3.14 and a 200-day moving average of $3.12.

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

Hedge Funds Weigh In On AMC Entertainment

Hedge funds have recently bought and sold shares of the business. Legacy Financial Strategies LLC bought a new stake in shares of AMC Entertainment in the 1st quarter worth approximately $29,000. Ground Swell Capital LLC bought a new stake in shares of AMC Entertainment in the 1st quarter valued at about $30,000. Sterling Capital Management LLC raised its stake 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 valued at $43,000 after acquiring an additional 9,679 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of AMC Entertainment during the 1st quarter valued at approximately $36,000. Finally, Kapitalo Investimentos Ltda acquired a new position in AMC Entertainment in the 2nd quarter valued at $40,000. 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.