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

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped up prior to trading 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 equities research analysts recently weighed in on the stock. Wedbush reduced their price target on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday. B. Riley dropped their price objective on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $5.95.

AMC Entertainment Stock Up 8.2 %

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

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, sell-side analysts predict that AMC Entertainment Holdings, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

A number of large investors have recently made changes to their positions in AMC. Covestor Ltd boosted its stake in shares of AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after purchasing an additional 856 shares during the period. KBC Group NV bought a new stake in shares of AMC Entertainment in the fourth quarter valued at about $30,000. Russell Investments Group Ltd. bought a new stake in shares of AMC Entertainment in the fourth quarter valued at about $34,000. PNC Financial Services Group Inc. raised its holdings in shares of AMC Entertainment by 44.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock valued at $46,000 after acquiring an additional 3,448 shares in the last quarter. Finally, Peapack Gladstone Financial Corp bought a new stake in shares of AMC Entertainment in the first quarter valued at about $54,000. 28.80% of the stock is owned by hedge funds and other 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.