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 - Free Report) had its price objective upped by Citigroup from $2.60 to $2.70 in a research note published on Tuesday morning,Benzinga reports. They currently have a sell rating on the stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised AMC Entertainment from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. B. Riley initiated coverage on AMC Entertainment in a research note on Friday, May 16th. They issued a "neutral" rating and a $3.00 price objective on the stock. Finally, Wedbush raised 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. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $3.33.

AMC Entertainment Stock Up 4.1%

Shares of NYSE AMC traded up $0.1150 during midday trading on Tuesday, hitting $2.9450. The stock had a trading volume of 8,633,886 shares, compared to its average volume of 11,834,399. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -3.31 and a beta of 1.49. AMC Entertainment has a 1-year low of $2.45 and a 1-year high of $5.56. The company has a fifty day moving average price of $3.05 and a 200 day moving average price of $3.05.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently modified their holdings of AMC. Wells Fargo & Company MN raised its holdings in shares of AMC Entertainment by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 206,528 shares of the company's stock valued at $822,000 after buying an additional 49,545 shares during the period. Cerity Partners LLC purchased a new stake in AMC Entertainment during the 4th quarter worth approximately $284,000. Invesco Ltd. increased its holdings in AMC Entertainment by 1.3% during the 4th quarter. Invesco Ltd. now owns 777,765 shares of the company's stock worth $3,096,000 after purchasing an additional 10,337 shares during the last quarter. Legal & General Group Plc increased its holdings in AMC Entertainment by 20.0% during the 4th quarter. Legal & General Group Plc now owns 414,007 shares of the company's stock worth $1,648,000 after purchasing an additional 69,022 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in AMC Entertainment during the 4th quarter worth approximately $96,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.