AMC Entertainment (NYSE:AMC) Stock Price Up 4.8% – Still a Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC) traded up 4.8% during mid-day trading on Tuesday. The stock traded as high as $3.16 and last traded at $3.1450. 4,518,034 shares traded hands during trading, a decline of 87% from the average session volume of 35,662,375 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMC. Benchmark reaffirmed a “buy” rating and set a $3.00 target price (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. B. Riley Financial reiterated a “neutral” rating and issued a $2.50 target price (up from $2.25) on shares of AMC Entertainment in a research report on Wednesday, July 22nd. Wedbush reiterated an “outperform” rating and issued a $4.00 price target (up from $3.00) on shares of AMC Entertainment in a report on Tuesday, July 21st. Needham & Company LLC set a $3.50 price target on AMC Entertainment in a research report on Tuesday, July 21st. Finally, Citigroup reissued a “sell” rating and set a $2.20 price target (up from $1.80) on shares of AMC Entertainment in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.67.

AMC Entertainment Price Performance

The company’s fifty day moving average price is $2.69 and its 200 day moving average price is $2.15.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.50 billion. Analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new stake in shares of AMC Entertainment during the 2nd quarter worth approximately $969,000. 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 acquired a new position in AMC Entertainment during the 2nd quarter valued at approximately $1,643,000. Fund 1 Investments LLC acquired a new position in AMC Entertainment during the 2nd quarter valued at approximately $4,192,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in AMC Entertainment by 3,100.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 225,685 shares of the company’s stock valued at $352,000 after purchasing an additional 218,634 shares during the period. 28.80% of the stock is currently owned by institutional investors and hedge funds.

About AMC Entertainment

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.