AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.72, but opened at $2.94. AMC Entertainment shares last traded at $2.96, with a volume of 22,437,423 shares changing hands.
Analysts Set New Price Targets
A number of research analysts have commented on AMC shares. Wedbush reaffirmed a “neutral” rating and set a $6.00 price target on shares of AMC Entertainment in a research report on Friday, February 23rd. B. Riley reduced their target price on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, AMC Entertainment has a consensus rating of “Reduce” and a consensus price target of $6.35.
Read Our Latest Stock Report on AMC Entertainment
AMC Entertainment Trading Up 9.9 %
AMC Entertainment (NYSE:AMC – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.7 earnings per share for the current year.
Hedge Funds Weigh In On AMC Entertainment
A number of institutional investors have recently bought and sold shares of AMC. Covestor Ltd raised its holdings in AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares during the period. KBC Group NV bought a new position in AMC Entertainment in the 4th quarter worth $30,000. Russell Investments Group Ltd. bought a new stake in AMC Entertainment during the fourth quarter valued at about $34,000. FNY Investment Advisers LLC raised its holdings in AMC Entertainment by 1,160.9% during the third quarter. FNY Investment Advisers LLC now owns 5,400 shares of the company’s stock valued at $43,000 after acquiring an additional 5,909 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in AMC Entertainment by 44.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock valued at $46,000 after acquiring an additional 3,448 shares during the period. 28.80% of the stock is owned by institutional investors.
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.
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