AMC Entertainment (NYSE:AMC) Trading 7.3% Higher – Still a Buy?

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) traded up 7.3% during trading on Thursday . The stock traded as high as $5.35 and last traded at $5.27. 16,077,766 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 25,322,729 shares. The stock had previously closed at $4.91.

Analysts Set New Price Targets

A number of equities analysts have commented on AMC shares. Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. Morgan Stanley cut their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. B. Riley cut their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Macquarie restated an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $5.44.

AMC Entertainment Stock Performance

The company’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $4.78. The firm has a market capitalization of $2.07 billion, a PE ratio of -3.27 and a beta of 1.85.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business earned ($0.09) EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts expect that AMC Entertainment Holdings, Inc. will post -1.42 earnings per share for the current year.

Institutional Trading of AMC Entertainment

Hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in shares of AMC Entertainment in the 3rd quarter worth about $788,000. Sanctuary Advisors LLC acquired a new stake in AMC Entertainment during the third quarter worth about $72,000. Virtu Financial LLC bought a new position in AMC Entertainment in the third quarter worth about $893,000. Geode Capital Management LLC boosted its stake in AMC Entertainment by 12.1% in the third quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock valued at $36,622,000 after acquiring an additional 866,757 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of AMC Entertainment during the third quarter valued at approximately $484,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

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.