AMC Entertainment (NYSE:AMC) Trading 7.3% Higher – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) traded up 7.3% during trading on Thursday . The company 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.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. B. Riley lowered their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Macquarie reaffirmed an “underperform” rating and issued a $4.00 target price on shares of AMC Entertainment in a report on Wednesday, November 13th. Finally, StockNews.com raised shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $5.44.

AMC Entertainment Stock Performance

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

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. AMC Entertainment’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that AMC Entertainment Holdings, Inc. will post -1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMC. Franklin Resources Inc. bought a new position in AMC Entertainment in the 3rd quarter valued at about $788,000. Sanctuary Advisors LLC acquired a new stake in shares of AMC Entertainment during the third quarter valued at approximately $72,000. Virtu Financial LLC acquired a new stake in shares of AMC Entertainment during the third quarter valued at approximately $893,000. Geode Capital Management LLC raised its holdings in shares of AMC Entertainment by 12.1% during 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 acquired a new stake in shares of AMC Entertainment during the third quarter valued at approximately $484,000. 28.80% of the stock is currently owned by institutional investors.

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.