AMC Entertainment (NYSE:AMC) Trading 6% Higher

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares traded up 6% during mid-day trading on Thursday . The company traded as high as $40.74 and last traded at $40.20. 813,491 shares were traded during trading, a decline of 99% from the average session volume of 134,514,016 shares. The stock had previously closed at $37.91.

A number of analysts have recently issued reports on the stock. Macquarie lowered shares of AMC Entertainment from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 1st. Zacks Investment Research upgraded AMC Entertainment from a “sell” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Wednesday. Citigroup lifted their price objective on AMC Entertainment from $3.70 to $5.00 and gave the company a “sell” rating in a report on Thursday, August 19th. Finally, Wedbush restated a “hold” rating and issued a $7.50 price objective on shares of AMC Entertainment in a report on Thursday, August 12th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.64.

The firm has a market capitalization of $20.48 billion, a P/E ratio of -2.41 and a beta of 1.27. The stock’s fifty day simple moving average is $39.91 and its 200 day simple moving average is $33.30.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Sunday, August 8th. The company reported ($0.71) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.91) by $0.20. The firm had revenue of $444.70 million during the quarter, compared to the consensus estimate of $382.11 million. During the same quarter in the prior year, the firm posted ($5.44) earnings per share. The business’s revenue for the quarter was up 2252.9% compared to the same quarter last year. On average, equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -2.75 earnings per share for the current fiscal year.

In other news, CFO Sean D. Goodman sold 45,405 shares of the company’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $34.79, for a total transaction of $1,579,639.95. Following the transaction, the chief financial officer now owns 111,300 shares in the company, valued at $3,872,127. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMC. Swiss National Bank boosted its position in AMC Entertainment by 50.3% in the first quarter. Swiss National Bank now owns 195,641 shares of the company’s stock valued at $1,997,000 after buying an additional 65,500 shares during the last quarter. Principal Financial Group Inc. boosted its position in AMC Entertainment by 26.0% in the first quarter. Principal Financial Group Inc. now owns 271,886 shares of the company’s stock valued at $2,776,000 after buying an additional 56,186 shares during the last quarter. New York State Common Retirement Fund boosted its position in AMC Entertainment by 325.2% in the first quarter. New York State Common Retirement Fund now owns 177,300 shares of the company’s stock valued at $1,810,000 after buying an additional 135,600 shares during the last quarter. Formidable Asset Management LLC purchased a new stake in AMC Entertainment in the first quarter valued at approximately $122,000. Finally, Prudential Financial Inc. purchased a new stake in AMC Entertainment in the first quarter valued at approximately $290,000. Hedge funds and other institutional investors own 24.90% of the company’s stock.

About AMC Entertainment (NYSE:AMC)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

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