AMC Entertainment (NYSE:AMC) Sees Strong Trading Volume – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw unusually-strong trading volume on Wednesday . Approximately 11,864,864 shares were traded during mid-day trading, an increase of 2% from the previous session’s volume of 11,686,259 shares.The stock last traded at $3.41 and had previously closed at $3.24.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMC shares. B. Riley cut their price target on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. 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. Finally, Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Stock Performance

The stock’s fifty day moving average is $4.33 and its 200 day moving average is $4.63. The stock has a market cap of $1.33 billion, a P/E ratio of -2.19 and a beta of 1.92.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s revenue was down 4.1% on a year-over-year basis. Equities research analysts predict that AMC Entertainment Holdings, Inc. will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in AMC Entertainment by 153.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock worth $16,860,000 after purchasing an additional 2,243,052 shares during the last quarter. Renaissance Technologies LLC lifted its stake in AMC Entertainment by 18.2% in the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after purchasing an additional 1,585,430 shares during the last quarter. Marshall Wace LLP bought a new stake in AMC Entertainment in the second quarter worth about $6,775,000. JPMorgan Chase & Co. lifted its stake in AMC Entertainment by 431.5% in the third quarter. JPMorgan Chase & Co. now owns 1,182,049 shares of the company’s stock worth $5,378,000 after purchasing an additional 959,642 shares during the last quarter. Finally, State Street Corp lifted its stake in AMC Entertainment by 14.6% in the third quarter. State Street Corp now owns 7,353,442 shares of the company’s stock worth $33,458,000 after purchasing an additional 936,618 shares during the last quarter. Institutional investors 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.