AMC Entertainment (NYSE:AMC) Trading 7.3% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

AMC has been the topic of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. B. Riley lowered their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Macquarie reaffirmed an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Wednesday, November 13th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley lowered their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Four 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 an average price target of $5.44.

AMC Entertainment Price Performance

The company’s 50-day simple moving average is $4.48 and its 200 day simple moving average is $4.78.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, sell-side analysts predict that AMC Entertainment Holdings, Inc. will post -1.42 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of AMC Entertainment by 18.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after buying an additional 1,585,430 shares during the period. Geode Capital Management LLC boosted its holdings in shares of AMC Entertainment by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock worth $36,622,000 after buying an additional 866,757 shares during the period. State Street Corp raised its stake in AMC Entertainment by 14.6% during the 3rd quarter. State Street Corp now owns 7,353,442 shares of the company’s stock valued at $33,458,000 after purchasing an additional 936,618 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in AMC Entertainment by 153.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock valued at $16,860,000 after purchasing an additional 2,243,052 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in AMC Entertainment during the 2nd quarter valued at $6,775,000. 28.80% of the stock is owned by institutional investors.

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.