AMC Entertainment (NYSE:AMC) Stock Price Up 6% – Still a Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price rose 6% during trading on Monday. The stock traded as high as $3.13 and last traded at $3.1150. 9,545,153 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 36,143,293 shares. The stock had previously closed at $2.94.

Wall Street Analysts Forecast Growth

AMC has been the subject of several analyst reports. UBS Group restated a “buy” rating on shares of AMC Entertainment in a report on Tuesday, July 21st. Needham & Company LLC set a $3.50 price objective on shares of AMC Entertainment in a research report on Tuesday, July 21st. Zacks Research lowered shares of AMC Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Texas Capital raised shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.00 target price (up from $3.00) on shares of AMC Entertainment in a research note 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AMC Entertainment presently has an average rating of “Hold” and a consensus price target of $2.67.

AMC Entertainment Stock Performance

The firm has a market cap of $2.95 billion, a P/E ratio of -3.10 and a beta of 2.01. The stock has a fifty day simple moving average of $2.59 and a 200 day simple moving average of $1.97.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Research analysts predict that AMC Entertainment Holdings, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds have recently bought and sold shares of AMC. Integrated Wealth Concepts LLC raised its stake in AMC Entertainment by 64.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock valued at $48,000 after purchasing an additional 10,003 shares during the period. Tidal Investments LLC lifted its holdings in AMC Entertainment by 25.6% in the 2nd quarter. Tidal Investments LLC now owns 63,953 shares of the company’s stock worth $122,000 after purchasing an additional 13,028 shares in the last quarter. Summit Asset Management LLC bought a new position in AMC Entertainment in the 2nd quarter worth approximately $28,000. Global Retirement Partners LLC boosted its stake in AMC Entertainment by 24.4% in the 4th quarter. Global Retirement Partners LLC now owns 76,419 shares of the company’s stock worth $119,000 after purchasing an additional 14,978 shares during the period. Finally, Royal Bank of Canada grew its holdings in AMC Entertainment by 90.7% during the 1st quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock valued at $33,000 after buying an additional 16,011 shares in the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is a movie exhibition company that operates cinemas in the United States and internationally. Its theaters show first-run films and offer a range of viewing formats, including premium large-screen, enhanced sound and 3D experiences, along with reserved seating and other in-theater amenities.

The company generates revenue primarily from movie admissions and the sale of food and beverages, including popcorn, drinks and other concessions. AMC also operates advertising and promotional programs, loyalty offerings through AMC Stubs, and initiatives that extend its cinema brand beyond traditional theater operations, including the sale of AMC-branded popcorn through retail channels.

AMC traces its history to 1920, when the Dubinsky Brothers opened their first theater in Kansas City, Missouri.