AMC Entertainment (NYSE:AMC) Trading Up 3.1%

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded up 3.1% during mid-day trading on Friday . The company traded as high as $3.03 and last traded at $3.01. 2,030,237 shares traded hands during trading, a decline of 87% from the average session volume of 15,129,838 shares. The stock had previously closed at $2.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush dropped their target price on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday. B. Riley dropped their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, AMC Entertainment currently has an average rating of “Reduce” and a consensus target price of $5.95.

AMC Entertainment Price Performance

The company has a market cap of $853.03 million, a PE ratio of -1.33 and a beta of 1.62. The company’s 50 day simple moving average is $3.99 and its two-hundred day simple moving average is $5.94.

AMC Entertainment (NYSE:AMC) 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

A number of institutional investors have recently made changes to their positions in AMC. Covestor Ltd boosted its stake in shares of 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 purchasing an additional 856 shares during the period. KBC Group NV purchased a new position in shares of AMC Entertainment in the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. purchased a new position in AMC Entertainment in the fourth quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its stake in AMC Entertainment by 44.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after acquiring an additional 3,448 shares during the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new position in AMC Entertainment in the first quarter worth approximately $54,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

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.