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

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) 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 Ratings Changes

Several equities research analysts have recently issued reports on AMC shares. B. Riley lowered their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Wedbush reissued a “neutral” rating and set a $6.00 target price on shares of AMC Entertainment in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, AMC Entertainment currently has an average rating of “Reduce” and an average price target of $6.35.

AMC Entertainment Stock Performance

The stock has a market capitalization of $787.21 million, a PE ratio of -1.26 and a beta of 1.62. The stock’s 50 day moving average is $4.06 and its two-hundred day moving average is $6.02.

AMC Entertainment (NYSE:AMC) last issued 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 during the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts expect that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in AMC. Covestor Ltd increased its holdings in shares of AMC Entertainment by 417.6% during the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after buying an additional 856 shares during the last quarter. KBC Group NV acquired a new stake in AMC Entertainment in the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. acquired a new stake in AMC Entertainment in the 4th quarter valued at approximately $34,000. FNY Investment Advisers LLC increased its holdings in AMC Entertainment by 1,160.9% in the 3rd quarter. FNY Investment Advisers LLC now owns 5,400 shares of the company’s stock valued at $43,000 after purchasing an additional 5,909 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in 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 last quarter. Institutional investors and hedge funds 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.