Citigroup Forecasts Strong Price Appreciation for AMC Entertainment (NYSE:AMC) Stock

Key Points

• Citigroup raised its target price for AMC Entertainment stock from $2.60 to $2.70, maintaining a "sell" rating, despite indicating a potential downside of 7.06% from the current price.
• Other research firms have upgraded AMC, with Wall Street Zen moving it from a "strong sell" to "hold," and Wedbush upgrading it from "neutral" to "outperform" with a new price target of $4.00.
• Institutional investors are increasing their holdings in AMC, with Deutsche Bank raising its stake by 51.3% and Marshall Wace expanding its position by 85.4% in the fourth quarter.

AMC Entertainment (NYSE:AMC - Get Free Report) had its target price raised by analysts at Citigroup from $2.60 to $2.70 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. Citigroup's price objective would suggest a potential downside of 7.06% from the company's current price.

Several other research firms have also recently commented on AMC. Wall Street Zen upgraded AMC Entertainment from a "strong sell" rating to a "hold" rating in a research note on Saturday. Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and raised their price target for the company from $3.00 to $4.00 in a research report on Friday, July 11th. Finally, B. Riley initiated coverage on AMC Entertainment in a research note on Friday, May 16th. They set a "neutral" rating and a $3.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $3.33.

AMC Entertainment Stock Down 0.9%

AMC traded down $0.0250 on Tuesday, reaching $2.9050. The company's stock had a trading volume of 3,475,943 shares, compared to its average volume of 10,759,656. The stock has a 50 day moving average of $3.08 and a two-hundred day moving average of $3.05. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.26 and a beta of 1.49. AMC Entertainment has a fifty-two week low of $2.45 and a fifty-two week high of $5.56.

Institutional Investors Weigh In On AMC Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in AMC Entertainment by 51.3% in the fourth quarter. Deutsche Bank AG now owns 282,815 shares of the company's stock worth $1,126,000 after acquiring an additional 95,834 shares in the last quarter. Northern Trust Corp grew its stake in AMC Entertainment by 12.6% during the 4th quarter. Northern Trust Corp now owns 3,318,281 shares of the company's stock valued at $13,207,000 after acquiring an additional 370,408 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in AMC Entertainment during the 4th quarter valued at about $1,191,000. Marshall Wace LLP grew its stake in AMC Entertainment by 85.4% during the 4th quarter. Marshall Wace LLP now owns 2,801,788 shares of the company's stock valued at $11,151,000 after acquiring an additional 1,290,376 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in AMC Entertainment by 15.7% during the 4th quarter. Tidal Investments LLC now owns 28,581 shares of the company's stock valued at $114,000 after acquiring an additional 3,885 shares in the last quarter. 28.80% of the stock is currently owned by 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.

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