AMC Entertainment (NYSE:AMC) Trading 5.8% Higher – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price shot up 5.8% during mid-day trading on Monday . The company traded as high as $2.94 and last traded at $2.81. 6,587,852 shares changed hands during trading, a decline of 72% from the average session volume of 23,601,587 shares. The stock had previously closed at $2.65.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMC shares. Roth Capital set a $3.25 price objective on AMC Entertainment in a report on Tuesday, February 4th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a research report on Saturday, February 22nd. Macquarie reissued a “neutral” rating and issued a $4.00 target price on shares of AMC Entertainment in a report on Wednesday, February 26th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Monday, March 3rd. Finally, Citigroup lowered their price objective on shares of AMC Entertainment from $2.90 to $2.80 and set a “sell” rating for the company in a research report on Friday, March 7th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.76.

AMC Entertainment Trading Up 3.2 %

The company has a 50-day moving average of $3.13 and a 200-day moving average of $3.87. The firm has a market capitalization of $1.18 billion, a P/E ratio of -1.70 and a beta of 1.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMC. Charles Schwab Investment Management Inc. increased its position in shares of AMC Entertainment by 153.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock worth $16,860,000 after buying an additional 2,243,052 shares during the period. The Manufacturers Life Insurance Company boosted its position in AMC Entertainment by 16.9% during the third quarter. The Manufacturers Life Insurance Company now owns 176,232 shares of the company’s stock valued at $802,000 after acquiring an additional 25,489 shares during the last quarter. FMR LLC grew its holdings in AMC Entertainment by 43.5% during the 3rd quarter. FMR LLC now owns 60,877 shares of the company’s stock worth $277,000 after acquiring an additional 18,464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AMC Entertainment by 32.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,360 shares of the company’s stock worth $279,000 after acquiring an additional 15,132 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of AMC Entertainment by 39.2% in the 3rd quarter. Janus Henderson Group PLC now owns 128,574 shares of the company’s stock valued at $586,000 after purchasing an additional 36,231 shares during the period. Institutional investors 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.