AMC Entertainment (NYSE:AMC) Trading Up 7% – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares traded up 7% on Tuesday . The company traded as high as $1.4550 and last traded at $1.4550. 6,538,233 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 34,402,141 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

AMC has been the subject of a number of analyst reports. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup boosted their price objective 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 target price for the company in a report on Wednesday, May 6th. B. Riley Financial reaffirmed a “neutral” rating on shares of AMC Entertainment in a research note on Friday, April 17th. Finally, Roth Mkm set a $1.50 price target on AMC Entertainment in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.24.

AMC Entertainment Trading Up 1.8%

The stock has a market capitalization of $847.72 million, a price-to-earnings ratio of -1.31 and a beta of 2.14. The firm’s fifty day moving average price is $1.32 and its 200 day moving average price is $1.62.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Tuesday, May 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.19 million. During the same quarter last year, the firm posted ($0.58) earnings per share. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, analysts forecast that AMC Entertainment Holdings, Inc. will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently bought and sold shares of AMC. Wealthfront Advisers LLC boosted its holdings in AMC Entertainment by 7.6% during the 3rd quarter. Wealthfront Advisers LLC now owns 81,455 shares of the company’s stock valued at $236,000 after acquiring an additional 5,763 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of AMC Entertainment by 59.5% during the third quarter. Swiss Life Asset Management Ltd now owns 17,512 shares of the company’s stock worth $51,000 after purchasing an additional 6,536 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of AMC Entertainment by 14.3% in the third quarter. Victory Capital Management Inc. now owns 58,710 shares of the company’s stock valued at $170,000 after purchasing an additional 7,339 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of AMC Entertainment by 761.8% in the third quarter. Jones Financial Companies Lllp now owns 8,480 shares of the company’s stock valued at $25,000 after purchasing an additional 7,496 shares in the last quarter. Finally, Optimize Financial Inc grew its holdings in shares of AMC Entertainment by 1.5% in the fourth quarter. Optimize Financial Inc now owns 543,906 shares of the company’s stock valued at $848,000 after purchasing an additional 7,824 shares in the last quarter. Institutional investors and hedge funds own 28.80% of the company’s stock.

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.