AMC Entertainment (NYSE:AMC) Shares Up 5.7% – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price was up 5.7% during mid-day trading on Monday . The company traded as high as $2.76 and last traded at $2.6950. 9,924,729 shares were traded during mid-day trading, a decline of 74% from the average session volume of 37,663,527 shares. The stock had previously closed at $2.55.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMC. Texas Capital upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Zacks Research lowered AMC Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. UBS Group reiterated a “buy” rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. Roth Capital set a $1.50 price objective on shares of AMC Entertainment in a research report on Tuesday, May 19th. Finally, Citigroup reissued a “sell” rating on shares of AMC Entertainment in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.53.

AMC Entertainment Stock Performance

The firm has a market cap of $2.43 billion, a P/E ratio of -2.55 and a beta of 2.06. The company’s 50 day moving average is $2.31 and its 200 day moving average is $1.72.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Monday, July 20th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.50 billion. On average, equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in AMC. Pitcairn Co. acquired a new position in shares of AMC Entertainment in the 2nd quarter worth approximately $34,000. Summit Asset Management LLC bought a new position in shares of AMC Entertainment during the 2nd quarter worth about $28,000. One Capital Management LLC acquired a new stake in shares of AMC Entertainment in the 3rd quarter valued at about $44,000. Triumph Capital Management increased its position in AMC Entertainment by 139.0% in the 4th quarter. Triumph Capital Management now owns 19,000 shares of the company’s stock valued at $30,000 after buying an additional 11,050 shares in the last quarter. Finally, Voleon Capital Management LP bought a new stake in AMC Entertainment in the 3rd quarter valued at about $59,000. 28.80% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

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.