AMC Entertainment (NYSE:AMC) Shares Up 7.9% – What’s Next?
by Mitch Edgeman · The Markets DailyAMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report)’s stock price shot up 7.9% during trading on Tuesday . The stock traded as high as $1.88 and last traded at $1.9420. 6,823,700 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 34,348,520 shares. The stock had previously closed at $1.80.
Wall Street Analyst Weigh In
AMC has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of AMC Entertainment in a research note on Monday, April 20th. Roth Mkm set a $1.50 price objective on AMC Entertainment in a research note on Tuesday, May 19th. Wall Street Zen upgraded shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup boosted their price objective on AMC Entertainment from $1.10 to $1.20 and gave the company a “sell” rating in a research report on Thursday, May 7th. Finally, Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.24.
Check Out Our Latest Report on AMC
AMC Entertainment Price Performance
The firm has a 50-day moving average price of $1.51 and a 200 day moving average price of $1.54. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -1.83 and a beta of 2.22.
AMC Entertainment (NYSE:AMC – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $979.19 million. During the same period in the prior year, the firm posted ($0.58) earnings per share. The company’s revenue was up 21.2% compared to the same quarter last year. On average, equities analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.41 EPS for the current fiscal year.
Insider Activity
In other AMC Entertainment news, CEO Adam M. Aron bought 250,000 shares of AMC Entertainment stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $1.38 per share, with a total value of $345,000.00. Following the completion of the transaction, the chief executive officer owned 2,437,020 shares in the company, valued at $3,363,087.60. The trade was a 11.43% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.
Institutional Trading of AMC Entertainment
Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AMC Entertainment by 21.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 240,255 shares of the company’s stock worth $690,000 after purchasing an additional 41,860 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AMC Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 710,181 shares of the company’s stock worth $2,038,000 after buying an additional 164,740 shares in the last quarter. JPMorgan Chase & Co. grew its position in AMC Entertainment by 19.8% during the second quarter. JPMorgan Chase & Co. now owns 1,820,405 shares of the company’s stock worth $5,643,000 after buying an additional 300,376 shares in the last quarter. Prudential Financial Inc. increased its stake in AMC Entertainment by 89.6% during the 2nd quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock worth $173,000 after acquiring an additional 26,310 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in AMC Entertainment by 9.2% in the 2nd quarter. Hsbc Holdings PLC now owns 102,506 shares of the company’s stock valued at $315,000 after acquiring an additional 8,629 shares in the last quarter. 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.