AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.72, but opened at $2.94. AMC Entertainment shares last traded at $2.96, with a volume of 22,437,423 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on AMC. Wedbush reissued a "neutral" rating and set a $6.00 price objective on shares of AMC Entertainment in a report on Friday, February 23rd. B. Riley dropped their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $6.35.
Check Out Our Latest Stock Analysis on AMC Entertainment
AMC Entertainment Price Performance
The stock has a market cap of $780.63 million, a price-to-earnings ratio of -1.27 and a beta of 1.62. The firm has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $5.99.
AMC Entertainment (NYSE:AMC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. On average, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AMC Entertainment
Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd lifted its stake in AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company's stock valued at $26,000 after buying an additional 856 shares in the last quarter. KBC Group NV acquired a new position in AMC Entertainment in the 4th quarter worth $30,000. Russell Investments Group Ltd. bought a new position in AMC Entertainment during the 4th quarter worth about $34,000. FNY Investment Advisers LLC increased its holdings in AMC Entertainment by 1,160.9% during the 3rd quarter. FNY Investment Advisers LLC now owns 5,400 shares of the company's stock worth $43,000 after purchasing an additional 5,909 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of AMC Entertainment by 44.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company's stock valued at $46,000 after purchasing an additional 3,448 shares during the period. Institutional investors and hedge funds own 28.80% of the company's stock.
About AMC Entertainment
(
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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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