AMC Entertainment’s (AMC) Outperform Rating Reaffirmed at Wedbush
Wedbush reiterated their outperform rating on shares of AMC Entertainment (NYSE:AMC) in a research report released on Wednesday, RTT News reports. They currently have a $15.00 price target on the stock.
A number of other equities research analysts have also recently weighed in on AMC. MKM Partners reduced their price objective on AMC Entertainment to $8.50 and set a neutral rating for the company in a research note on Monday, July 15th. Loop Capital restated a hold rating on shares of AMC Entertainment in a research note on Wednesday, July 3rd. ValuEngine upgraded AMC Entertainment from a hold rating to a buy rating in a research note on Friday, July 26th. Credit Suisse Group initiated coverage on AMC Entertainment in a research note on Friday, July 19th. They set an outperform rating and a $18.00 price target for the company. Finally, Barrington Research restated a buy rating on shares of AMC Entertainment in a research note on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $16.41.
NYSE AMC traded up $0.36 on Wednesday, reaching $11.62. The stock had a trading volume of 2,870,064 shares, compared to its average volume of 3,283,983. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 7.43. AMC Entertainment has a 12-month low of $8.73 and a 12-month high of $21.45. The company’s 50-day moving average is $10.20.
In related news, Director Raymond C. Stachowiak purchased 160,559 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $2.73 per share, for a total transaction of $438,326.07. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its holdings in AMC Entertainment by 14.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,990 shares of the company’s stock worth $104,000 after acquiring an additional 908 shares during the period. Hollencrest Capital Management grew its holdings in AMC Entertainment by 10.9% during the first quarter. Hollencrest Capital Management now owns 11,251 shares of the company’s stock worth $167,000 after acquiring an additional 1,103 shares during the period. Legal & General Group Plc grew its holdings in AMC Entertainment by 16.0% during the fourth quarter. Legal & General Group Plc now owns 9,306 shares of the company’s stock worth $114,000 after acquiring an additional 1,287 shares during the period. NJ State Employees Deferred Compensation Plan grew its holdings in AMC Entertainment by 6.7% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 32,000 shares of the company’s stock worth $475,000 after acquiring an additional 2,000 shares during the period. Finally, Chartwell Investment Partners LLC grew its holdings in AMC Entertainment by 1.9% during the first quarter. Chartwell Investment Partners LLC now owns 119,925 shares of the company’s stock worth $1,781,000 after acquiring an additional 2,275 shares during the period. 49.10% of the stock is currently owned by hedge funds and other institutional investors.
AMC Entertainment Company Profile
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.
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