AMC Entertainment (NYSE:AMC) Shares Up 14.1% – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price traded up 14.1% during trading on Friday . The company traded as high as $1.51 and last traded at $1.6550. 16,097,792 shares were traded during mid-day trading, a decline of 45% from the average session volume of 29,277,258 shares. The stock had previously closed at $1.45.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. Zacks Research downgraded AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Citigroup cut their price target on AMC Entertainment from $2.70 to $2.30 and set a “sell” rating for the company in a research note on Thursday, November 13th. Finally, Wall Street Zen lowered shares of AMC Entertainment from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $3.26.

AMC Entertainment Stock Performance

The company has a market capitalization of $838.66 million, a PE ratio of -1.16 and a beta of 0.72. The company’s fifty day moving average is $2.07 and its 200-day moving average is $2.64.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.21 billion. AMC Entertainment’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds have recently made changes to their positions in AMC. UBS Group AG increased its holdings in shares of AMC Entertainment by 4,537.9% in the third quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after purchasing an additional 22,694,842 shares during the last quarter. Marshall Wace LLP lifted its stake in AMC Entertainment by 17,925.0% in the second quarter. Marshall Wace LLP now owns 11,998,516 shares of the company’s stock worth $37,195,000 after purchasing an additional 11,931,950 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AMC Entertainment by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 50,119,260 shares of the company’s stock valued at $145,346,000 after acquiring an additional 5,793,996 shares during the period. Jump Financial LLC bought a new position in shares of AMC Entertainment in the third quarter worth about $4,827,000. Finally, Geode Capital Management LLC increased its position in shares of AMC Entertainment by 10.6% during the second quarter. Geode Capital Management LLC now owns 10,253,501 shares of the company’s stock worth $31,790,000 after acquiring an additional 982,532 shares during the period. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.