AMC Entertainment (NYSE:AMC) Stock Rating Upgraded by Wedbush

AMC Entertainment (NYSE:AMC) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $4.00 price target on the stock, up from their previous price target of $3.00. Wedbush’s price target indicates a potential upside of 19.40% from the company’s previous close.

AMC has been the topic of several other research reports. Roth Mkm dropped their price objective on AMC Entertainment from $3.25 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. B. Riley started coverage on AMC Entertainment in a research report on Friday, May 16th. They set a “neutral” rating and a $3.00 price target on the stock. Finally, Citigroup reiterated a “sell” rating and issued a $2.60 price objective (up from $2.30) on shares of AMC Entertainment in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.26.

AMC Entertainment Price Performance

AMC opened at $3.35 on Friday. The company’s 50 day simple moving average is $3.08 and its 200-day simple moving average is $3.15. AMC Entertainment has a one year low of $2.45 and a one year high of $5.76. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.42 and a beta of 1.43.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.03. The business had revenue of $862.50 million for the quarter, compared to analyst estimates of $983.23 million. During the same quarter in the previous year, the company posted ($0.62) earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, analysts anticipate that AMC Entertainment will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMC. Tidal Investments LLC boosted its stake in shares of AMC Entertainment by 15.7% during the 4th quarter. Tidal Investments LLC now owns 28,581 shares of the company’s stock worth $114,000 after acquiring an additional 3,885 shares during the period. Mackenzie Financial Corp boosted its position in AMC Entertainment by 24.3% during the first quarter. Mackenzie Financial Corp now owns 22,517 shares of the company’s stock worth $65,000 after purchasing an additional 4,400 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of AMC Entertainment by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company’s stock valued at $252,000 after purchasing an additional 4,551 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of AMC Entertainment by 10.1% in the first quarter. Victory Capital Management Inc. now owns 51,805 shares of the company’s stock valued at $149,000 after purchasing an additional 4,756 shares during the period. Finally, Xponance Inc. raised its position in shares of AMC Entertainment by 21.8% in the first quarter. Xponance Inc. now owns 30,383 shares of the company’s stock valued at $87,000 after purchasing an additional 5,446 shares during the period. 28.80% of the stock is owned by institutional investors and hedge funds.

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.