AMC Entertainment (NYSE:AMC) Shares Gap Up to $4.74

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares gapped up before the market opened on Thursday . The stock had previously closed at $4.74, but opened at $4.91. AMC Entertainment shares last traded at $4.78, with a volume of 1,412,382 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Benchmark restated a “hold” rating on shares of AMC Entertainment in a report on Monday, August 5th. Morgan Stanley dropped their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Citigroup raised their target price on shares of AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research note on Tuesday, May 14th. Macquarie lifted their target price on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 9th. Finally, Wedbush reissued a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Six analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $6.03.

AMC Entertainment Stock Up 3.2 %

The stock has a fifty day moving average price of $5.05 and a 200-day moving average price of $4.45. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.74 and a beta of 1.84.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.43). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. The company’s revenue was down 23.1% on a year-over-year basis. As a group, research analysts expect that AMC Entertainment Holdings, Inc. will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMC. Vanguard Group Inc. grew its position in AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after acquiring an additional 6,577,228 shares during the period. Norges Bank purchased a new stake in AMC Entertainment during the fourth quarter worth approximately $12,605,000. Renaissance Technologies LLC increased its position in shares of AMC Entertainment by 18.2% in the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after acquiring an additional 1,585,430 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of AMC Entertainment during the second quarter worth about $6,775,000. Finally, SG Americas Securities LLC grew its position in AMC Entertainment by 1,894.0% in the second quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after acquiring an additional 1,064,805 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.