AMC Entertainment (NYSE:AMC) Sees Large Volume Increase – Still a Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares saw strong trading volume on Friday . 10,276,713 shares traded hands during trading, a decline of 16% from the previous session’s volume of 12,238,231 shares.The stock last traded at $2.69 and had previously closed at $2.73.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen raised AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of AMC Entertainment in a research report on Friday. Citigroup upped their price target on AMC Entertainment from $2.60 to $2.70 and gave the company a “sell” rating in a research report on Tuesday, August 19th. Wedbush raised AMC Entertainment from a “neutral” rating to an “outperform” rating and upped their price target for the company from $3.00 to $4.00 in a research report on Friday, July 11th. Finally, Zacks Research raised AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, AMC Entertainment currently has an average rating of “Hold” and a consensus price target of $3.33.

AMC Entertainment Price Performance

The business has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $2.97. The stock has a market cap of $1.38 billion, a PE ratio of -3.02 and a beta of 1.25.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Monday, August 11th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.36). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. AMC Entertainment’s quarterly revenue was up 35.6% on a year-over-year basis. As a group, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of AMC Entertainment

Large investors have recently made changes to their positions in the stock. Total Investment Management Inc. bought a new stake in shares of AMC Entertainment during the 2nd quarter worth about $27,000. Ground Swell Capital LLC bought a new stake in shares of AMC Entertainment during the 1st quarter worth about $30,000. Sovereign Financial Group Inc. bought a new stake in shares of AMC Entertainment during the 2nd quarter worth about $32,000. CFO4Life Group LLC bought a new stake in shares of AMC Entertainment during the 2nd quarter worth about $33,000. Finally, May Hill Capital LLC bought a new stake in shares of AMC Entertainment during the 2nd quarter worth about $34,000. 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.