AMC Entertainment (NYSE:AMC) Shares Up 4.8% - Here's What Happened

Key Points

• AMC shares rose 4.8% to approximately $3.15 during Tuesday trading, though volume was 87% below the stock’s average daily volume.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $2.67; targets range from $2.20 to $4.00.
• AMC exceeded quarterly expectations, reporting $0.14 in EPS versus a projected loss of $0.03 and revenue of $1.60 billion versus estimates of $1.50 billion. Several institutional investors also initiated or increased positions, with institutions owning 28.8% of the stock.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) traded up 4.8% during trading on Tuesday. The company traded as high as $3.16 and last traded at $3.1450. 4,518,034 shares traded hands 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.

Analyst Ratings Changes

AMC has been the topic of several research reports. Zacks Research cut shares of AMC Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. B. Riley Financial restated a "neutral" rating and issued a $2.50 price target (up from $2.25) on shares of AMC Entertainment in a research note on Wednesday, July 22nd. Citigroup reaffirmed a "sell" rating and set a $2.20 price objective (up from $1.80) on shares of AMC Entertainment in a research report on Friday, September 25th. Wedbush reiterated an "outperform" rating and issued a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, Benchmark reiterated a "buy" rating and issued a $3.00 price objective (up from $2.50) on shares of AMC Entertainment in a research note on Tuesday, July 21st. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $2.67.

AMC Entertainment Trading Up 4.2%

The firm's fifty day moving average price is $2.68 and its 200-day moving average price is $2.12. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -2.94 and a beta of 1.97.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The company reported $0.14 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -0.20 earnings per share for the current year.

Institutional Trading of AMC Entertainment

A number of institutional investors have recently modified their holdings of the business. Readystate Asset Management LP purchased a new stake in AMC Entertainment during the second quarter worth about $8,343,000. Fund 1 Investments LLC acquired a new position in shares of AMC Entertainment during the 2nd quarter valued at about $4,192,000. Headlands Technologies LLC purchased a new stake in AMC Entertainment in the second quarter valued at approximately $1,643,000. WINTON GROUP Ltd acquired a new position in AMC Entertainment during the second quarter worth approximately $969,000. Finally, Bank of America Corp DE increased its position in AMC Entertainment by 34.3% during the first quarter. Bank of America Corp DE now owns 543,857 shares of the company's stock worth $533,000 after purchasing an additional 138,853 shares during the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

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