AMC Entertainment (NYSE:AMC) Hits New 52-Week High – Should You Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC) reached a new 52-week high on Wednesday. The company traded as high as $3.43 and last traded at $3.4450, with a volume of 3,749,702 shares. The stock had previously closed at $3.28.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. B. Riley Financial reaffirmed a “neutral” rating on shares of AMC Entertainment in a research report on Monday, October 19th. Roth Capital reaffirmed a “neutral” rating on shares of AMC Entertainment in a report on Friday, October 23rd. Finally, Needham & Company LLC set a $3.50 price objective on AMC Entertainment in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.67.

AMC Entertainment Stock Up 6.9%

The business has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $1.99. The company has a market capitalization of $3.13 billion, a P/E ratio of -3.27 and a beta of 2.03.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMC. Readystate Asset Management LP bought a new position in AMC Entertainment in the 2nd quarter valued at about $8,343,000. WINTON GROUP Ltd acquired a new position in AMC Entertainment in the second quarter worth approximately $969,000. Headlands Technologies LLC acquired a new stake in shares of AMC Entertainment during the second quarter worth $1,643,000. Fund 1 Investments LLC purchased a new stake in AMC Entertainment in the 2nd quarter worth about $4,192,000. Finally, State of Wyoming lifted its position in shares of AMC Entertainment by 892.0% in the third quarter. State of Wyoming now owns 261,206 shares of the company’s stock worth $784,000 after purchasing an additional 234,874 shares in the last quarter. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is one of the world’s largest theatrical exhibition companies. Through its AMC Theatres and ODEON Cinemas Group brands, the company operates movie theaters that showcase new film releases and provide audiences with premium viewing experiences.

AMC’s theater offerings include standard and large-format screens, IMAX and Dolby Cinema experiences, reserved seating, mobile and online ticketing, and food and beverage services. The company also operates loyalty programs, including AMC Stubs, and offers subscription and membership products in select markets.

Founded in 1920, AMC serves moviegoers primarily in the United States and Europe.