AMC Entertainment (NYSE:AMC) Sees Unusually-High Trading Volume – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares saw strong trading volume on Wednesday . 11,864,864 shares traded hands during trading, an increase of 2% from the previous session’s volume of 11,686,259 shares.The stock last traded at $3.41 and had previously closed at $3.24.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Macquarie reiterated an “underperform” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research note on Wednesday, November 13th. Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a research note on Thursday, November 7th. B. Riley dropped their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, AMC Entertainment has a consensus rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Trading Down 2.4 %

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -2.17 and a beta of 1.92. The firm’s 50 day simple moving average is $4.30 and its 200-day simple moving average is $4.62.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. As a group, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV purchased a new position in shares of AMC Entertainment in the 3rd quarter valued at about $37,000. Creative Planning purchased a new position in AMC Entertainment in the third quarter valued at about $48,000. Amalgamated Bank lifted its position in shares of AMC Entertainment by 31.5% during the 3rd 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 period. Burns Matteson Capital Management LLC purchased a new position in AMC Entertainment in the 3rd quarter valued at approximately $55,000. Finally, Private Advisor Group LLC raised its holdings in AMC Entertainment by 27.5% during the third quarter. Private Advisor Group LLC now owns 15,011 shares of the company’s stock worth $68,000 after purchasing an additional 3,237 shares during the last quarter. Institutional investors and hedge funds 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.