AMC Entertainment (NYSE:AMC) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded AMC Entertainment from “strong buy” to “hold.” MarketBeat’s analyst consensus is also “hold,” with an average price target of $2.53.
• AMC shares rose 5.7% to open at $2.52, while the company’s latest quarterly results exceeded expectations, reporting $0.14 in EPS versus a projected loss of $0.03 and revenue of $1.60 billion.
• Institutional investors own 28.8% of AMC, with UBS, JPMorgan, Renaissance Technologies, and State Street among firms that recently increased their positions.

AMC Entertainment (NYSE:AMC - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on AMC. Benchmark reissued a "buy" rating and issued a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Texas Capital upgraded AMC Entertainment from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Citigroup reissued a "sell" rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. Wedbush restated 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. Finally, B. Riley Financial reaffirmed a "neutral" rating and set a $2.50 price target (up from $2.25) on shares of AMC Entertainment in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, AMC Entertainment has a consensus rating of "Hold" and a consensus target price of $2.53.

AMC Entertainment Stock Up 5.7%

AMC Entertainment stock opened at $2.52 on Tuesday. The company has a 50 day moving average of $2.31 and a 200-day moving average of $1.71. AMC Entertainment has a twelve month low of $0.93 and a twelve month high of $3.18. The stock has a market capitalization of $2.24 billion, a PE ratio of -2.35 and a beta of 2.06.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its quarterly earnings data on Monday, July 20th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.17. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.50 billion. Equities analysts anticipate that AMC Entertainment will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently modified their holdings of the stock. UBS Group AG increased its holdings in AMC Entertainment by 4,537.9% during the third quarter. UBS Group AG now owns 23,194,957 shares of the company's stock worth $67,265,000 after buying an additional 22,694,842 shares during the last quarter. Jump Financial LLC acquired a new stake in AMC Entertainment in the third quarter valued at $4,827,000. JPMorgan Chase & Co. lifted its stake in AMC Entertainment by 87.6% in the fourth quarter. JPMorgan Chase & Co. now owns 3,120,561 shares of the company's stock valued at $4,868,000 after acquiring an additional 1,457,493 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of AMC Entertainment by 20.6% in the 4th quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company's stock valued at $12,495,000 after acquiring an additional 1,369,000 shares during the period. Finally, State Street Corp grew its position in shares of AMC Entertainment by 12.7% in the 4th quarter. State Street Corp now owns 11,349,046 shares of the company's stock valued at $17,705,000 after acquiring an additional 1,278,974 shares during the period. 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.

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