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

Key Points

• AMC shares rose 6% to $3.115 on Monday, although trading volume was about 74% below the stock’s average daily volume.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $2.67, below the recent share price. Ratings range from “Strong Buy” to “Sell.”
• AMC exceeded quarterly expectations, reporting $0.14 in EPS versus a projected $0.03 loss and $1.60 billion in revenue versus the $1.50 billion estimate; institutional investors own 28.8% of the company.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) shares traded up 6% on Monday. The stock traded as high as $3.13 and last traded at $3.1150. Approximately 9,545,153 shares traded hands during 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 Analyst Weigh In

A number of research analysts recently issued reports on AMC shares. Citigroup restated a "sell" rating and set a $2.20 price target (up from $1.80) on shares of AMC Entertainment in a report on Friday. Needham & Company LLC set a $3.50 price objective on AMC Entertainment in a report on Tuesday, July 21st. B. Riley Financial reiterated a "neutral" rating and issued a $2.50 price objective (up from $2.25) on shares of AMC Entertainment in a research report on Wednesday, July 22nd. UBS Group reissued a "buy" rating on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, Texas Capital raised AMC Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued 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 stock has a consensus rating of "Hold" and an average price target of $2.67.

AMC Entertainment Trading Up 12.5%

The business has a fifty day simple moving average of $2.59 and a two-hundred day simple moving average of $1.97. The stock has a market cap of $2.95 billion, a PE ratio of -3.10 and a beta of 2.01.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its earnings results on Monday, July 20th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.17. The firm had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.50 billion. On average, research analysts predict that AMC Entertainment Holdings, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of AMC Entertainment

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd purchased a new stake in AMC Entertainment in the second quarter worth about $969,000. Fund 1 Investments LLC purchased a new position in shares of AMC Entertainment during the second quarter valued at approximately $4,192,000. Readystate Asset Management LP bought a new stake in shares of AMC Entertainment in the 2nd quarter worth approximately $8,343,000. Headlands Technologies LLC bought a new stake in shares of AMC Entertainment in the 2nd quarter worth approximately $1,643,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of AMC Entertainment by 3,100.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 225,685 shares of the company's stock worth $352,000 after buying an additional 218,634 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.