AMC Entertainment (NYSE:AMC) Stock Price Up 4.8% – Time to Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares were up 4.8% on Tuesday. The company traded as high as $3.16 and last traded at $3.1450. 4,518,034 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 35,662,375 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

AMC has been the subject of a number of research analyst reports. Weiss Ratings upgraded AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Wedbush reaffirmed an “outperform” rating and issued a $4.00 target price (up from $3.00) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Citigroup restated a “sell” rating and issued a $2.20 target price (up from $1.80) on shares of AMC Entertainment in a research note on Friday, September 25th. Needham & Company LLC set a $3.50 price objective on shares of AMC Entertainment in a report on Tuesday, July 21st. Finally, Zacks Research lowered shares of AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, AMC Entertainment has a consensus rating of “Hold” and an average price target of $2.67.

AMC Entertainment Price Performance

The stock has a market cap of $2.79 billion, a PE ratio of -2.94 and a beta of 1.97. The business has a fifty day moving average of $2.68 and a 200 day moving average of $2.12.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.50 billion. On average, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.20 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AMC. Readystate Asset Management LP bought a new stake in shares of AMC Entertainment during the 2nd quarter valued at about $8,343,000. Fund 1 Investments LLC acquired a new stake in AMC Entertainment in the 2nd quarter valued at about $4,192,000. Headlands Technologies LLC acquired a new stake in shares of AMC Entertainment during the 2nd quarter valued at $1,643,000. WINTON GROUP Ltd purchased a new position in AMC Entertainment in the 2nd quarter worth about $969,000. Finally, Bank of America Corp DE boosted its holdings in shares of AMC Entertainment by 34.3% in the first quarter. Bank of America Corp DE now owns 543,857 shares of the company’s stock worth $533,000 after buying an additional 138,853 shares during the period. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates one of the world’s largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.