AMC Entertainment (NYSE:AMC) Sees Unusually-High Trading Volume

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw unusually-strong trading volume on Monday . Approximately 11,291,398 shares changed hands during trading, a decline of 28% from the previous session’s volume of 15,752,865 shares.The stock last traded at $3.14 and had previously closed at $3.30.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMC shares. B. Riley dropped their target price on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Wedbush restated a “neutral” rating and set a $4.00 target price on shares of AMC Entertainment in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, AMC Entertainment currently has a consensus rating of “Reduce” and an average price target of $5.95.

AMC Entertainment Price Performance

The stock has a market cap of $839.86 million, a P/E ratio of -1.36 and a beta of 1.69. The firm’s fifty day moving average price is $3.62 and its two-hundred day moving average price is $5.34.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. On average, research analysts expect that AMC Entertainment Holdings, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its position in AMC Entertainment by 43.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 16,663 shares of the company’s stock valued at $102,000 after purchasing an additional 5,070 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in AMC Entertainment during the fourth quarter valued at about $34,000. Blueshift Asset Management LLC raised its position in AMC Entertainment by 13.2% during the third quarter. Blueshift Asset Management LLC now owns 53,008 shares of the company’s stock valued at $424,000 after purchasing an additional 6,163 shares in the last quarter. HBK Sorce Advisory LLC raised its position in AMC Entertainment by 31.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after purchasing an additional 6,525 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in AMC Entertainment by 50.6% during the first quarter. Principal Financial Group Inc. now owns 20,091 shares of the company’s stock valued at $75,000 after purchasing an additional 6,748 shares in the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

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.