AMC Entertainment (NYSE:AMC) Trading Up 7.8% – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC) rose 7.8% during mid-day trading on Wednesday . The company traded as high as $1.83 and last traded at $1.8550. 32,163,578 shares changed hands during trading, a decline of 15% from the average daily volume of 37,652,141 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMC. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup raised their price target on AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a research note on Thursday, May 7th. Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Roth Capital set a $1.50 target price on shares of AMC Entertainment in a research report on Tuesday, May 19th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.24.

AMC Entertainment Stock Up 12.5%

The stock has a fifty day moving average of $1.84 and a two-hundred day moving average of $1.54. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -1.83 and a beta of 2.08.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.19 million. AMC Entertainment’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. Equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other AMC Entertainment news, CEO Adam M. Aron acquired 250,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $1.38 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the chief executive officer directly owned 2,437,020 shares in the company, valued at $3,363,087.60. This represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of AMC Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its position in AMC Entertainment by 4,537.9% in the third quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock valued at $67,265,000 after purchasing an additional 22,694,842 shares during the period. Geode Capital Management LLC boosted its position in shares of AMC Entertainment by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 12,254,550 shares of the company’s stock worth $19,121,000 after buying an additional 1,029,668 shares during the period. State Street Corp grew its stake in shares of AMC Entertainment by 12.7% in the fourth quarter. State Street Corp now owns 11,349,046 shares of the company’s stock valued at $17,705,000 after buying an additional 1,278,974 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of AMC Entertainment by 20.6% during the 4th quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company’s stock valued at $12,495,000 after buying an additional 1,369,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in AMC Entertainment by 87.6% in the 4th quarter. JPMorgan Chase & Co. now owns 3,120,561 shares of the company’s stock worth $4,868,000 after acquiring an additional 1,457,493 shares during the period. 28.80% of the stock is owned by hedge funds and other institutional investors.

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.