AMC Entertainment (NYSE:AMC) Sees Strong Trading Volume - Still a Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 11,864,864 shares traded hands during mid-day trading, an increase of 2% from the previous session's volume of 11,686,259 shares.The stock last traded at $3.41 and had previously closed at $3.24.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMC shares. Macquarie reaffirmed an "underperform" rating and set a $4.00 target price on shares of AMC Entertainment in a research note on Wednesday, November 13th. StockNews.com upgraded shares of AMC Entertainment to a "sell" rating in a research report on Tuesday, November 12th. B. Riley decreased their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Benchmark restated a "hold" rating on shares of AMC Entertainment in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $5.44.

AMC Entertainment Stock Performance

The firm's 50 day moving average price is $4.31 and its two-hundred day moving average price is $4.62. The firm has a market cap of $1.32 billion, a PE ratio of -2.18 and a beta of 1.92.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The business's revenue was down 4.1% compared to the same quarter last year. On average, analysts forecast that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

A number of institutional investors have recently modified their holdings of AMC. Commonwealth Equity Services LLC boosted its holdings in AMC Entertainment by 243.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 56,911 shares of the company's stock valued at $283,000 after acquiring an additional 40,336 shares during the period. Rhumbline Advisers lifted its position in shares of AMC Entertainment by 150.3% during the second quarter. Rhumbline Advisers now owns 437,501 shares of the company's stock worth $2,179,000 after purchasing an additional 262,701 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of AMC Entertainment by 10.3% in the second quarter. Victory Capital Management Inc. now owns 38,050 shares of the company's stock valued at $189,000 after purchasing an additional 3,553 shares during the period. Arizona State Retirement System grew its holdings in shares of AMC Entertainment by 35.4% in the second quarter. Arizona State Retirement System now owns 73,797 shares of the company's stock valued at $368,000 after purchasing an additional 19,284 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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. 28.80% of the stock is owned by institutional investors and hedge funds.

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.