AMC Entertainment (NYSE:AMC) Shares Up 4.9% - Here's Why

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s stock price was up 4.9% during mid-day trading on Tuesday . The stock traded as high as $4.35 and last traded at $4.26. Approximately 11,153,373 shares traded hands during trading, a decline of 56% from the average daily volume of 25,317,553 shares. The stock had previously closed at $4.06.

Wall Street Analysts Forecast Growth

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

AMC Entertainment Price Performance

The stock's 50-day moving average price is $4.47 and its 200-day moving average price is $4.76. The company has a market cap of $1.60 billion, a P/E ratio of -2.65 and a beta of 1.85.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $1.35 billion for 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 last year, the company posted ($0.09) EPS. As a group, analysts expect that AMC Entertainment Holdings, Inc. will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank boosted its holdings in AMC Entertainment by 31.5% in the third quarter. Amalgamated Bank now owns 11,568 shares of the company's stock valued at $53,000 after acquiring an additional 2,771 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of AMC Entertainment by 27.5% in the 3rd quarter. Private Advisor Group LLC now owns 15,011 shares of the company's stock valued at $68,000 after purchasing an additional 3,237 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of AMC Entertainment by 10.3% during the second quarter. Victory Capital Management Inc. now owns 38,050 shares of the company's stock worth $189,000 after buying an additional 3,553 shares during the period. Waldron Private Wealth LLC lifted its holdings in AMC Entertainment by 47.0% in the second quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company's stock valued at $85,000 after buying an additional 5,459 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AMC Entertainment by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company's stock valued at $230,000 after acquiring an additional 5,902 shares during the last quarter. Institutional investors and hedge funds own 28.80% of the company's stock.

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.