AMC Entertainment (NYSE:AMC) Stock Price Up 6.1% – Time to Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMCGet Free Report)’s share price shot up 6.1% on Wednesday . The stock traded as high as $2.42 and last traded at $2.3340. Approximately 8,432,328 shares were traded during trading, a decline of 78% from the average session volume of 38,999,289 shares. The stock had previously closed at $2.20.

Key AMC Entertainment News

Here are the key news stories impacting AMC Entertainment this week:

Wall Street Analysts Forecast Growth

AMC has been the topic of several recent analyst reports. Roth Capital set a $1.50 price target on AMC Entertainment in a research note on Tuesday, May 19th. Needham & Company LLC set a $3.50 price objective on AMC Entertainment in a research note on Tuesday. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, May 9th. Texas Capital raised AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, Citigroup reaffirmed a “sell” rating on shares of AMC Entertainment in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, AMC Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $2.53.

Read Our Latest Stock Analysis on AMC

AMC Entertainment Stock Performance

The firm has a market cap of $2.02 billion, a P/E ratio of -2.12 and a beta of 2.08. The firm has a fifty day moving average of $1.97 and a 200-day moving average of $1.57.

AMC Entertainment (NYSE:AMCGet 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 the consensus estimate of $1.50 billion. Equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.35 earnings per share for the current year.

Insider Activity

In other news, CEO Adam M. Aron purchased 250,000 shares of AMC Entertainment stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $1.38 per share, with a total value of $345,000.00. Following the completion of the acquisition, the chief executive officer owned 2,437,020 shares in the company, valued at $3,363,087.60. The trade was a 11.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of AMC Entertainment by 4,537.9% in the third quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock valued at $67,265,000 after purchasing an additional 22,694,842 shares during the period. Jump Financial LLC acquired a new position in shares of AMC Entertainment during the third quarter worth approximately $4,827,000. JPMorgan Chase & Co. boosted its position in shares of AMC Entertainment by 87.6% during the fourth quarter. JPMorgan Chase & Co. now owns 3,120,561 shares of the company’s stock worth $4,868,000 after buying an additional 1,457,493 shares during the period. Renaissance Technologies LLC grew its holdings in AMC Entertainment by 20.6% in the 4th quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company’s stock worth $12,495,000 after buying an additional 1,369,000 shares in the last quarter. Finally, State Street Corp grew its holdings in AMC Entertainment by 12.7% in the 4th quarter. State Street Corp now owns 11,349,046 shares of the company’s stock worth $17,705,000 after buying an additional 1,278,974 shares in the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

(Get Free Report)

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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