AMC Entertainment (NYSE:AMC) Shares Gap Up to $2.72

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMC shares. Wedbush cut their price target on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday. B. Riley cut their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $5.95.

AMC Entertainment Stock Up 8.2 %

The firm has a market cap of $831.96 million, a P/E ratio of -1.38 and a beta of 1.62. The firm’s 50-day simple moving average is $3.99 and its 200 day simple moving average is $5.94.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, analysts forecast that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current year.

Institutional Trading of AMC Entertainment

Several hedge funds have recently added to or reduced their stakes in AMC. American Century Companies Inc. raised its position in AMC Entertainment by 17.5% in the first quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock worth $500,000 after acquiring an additional 3,020 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of AMC Entertainment by 49.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock valued at $1,097,000 after purchasing an additional 14,732 shares during the period. Panagora Asset Management Inc. raised its position in shares of AMC Entertainment by 141.2% in the first quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock valued at $1,238,000 after purchasing an additional 29,413 shares during the period. Cibc World Market Inc. bought a new stake in shares of AMC Entertainment in the first quarter valued at approximately $321,000. Finally, Prudential PLC bought a new stake in shares of AMC Entertainment in the first quarter valued at approximately $275,000. Institutional investors own 28.80% of the company’s stock.

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.