AMC Entertainment (NYSE:AMC) Trading 7.7% Higher – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price was up 7.7% on Friday . The stock traded as high as $2.05 and last traded at $2.0350. 19,550,531 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 36,899,078 shares. The stock had previously closed at $1.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMC. Benchmark upgraded shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Mkm set a $1.50 price target on AMC Entertainment in a research report on Tuesday, May 19th. Finally, Citigroup increased their price target on AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.24.

AMC Entertainment Stock Performance

The stock has a market capitalization of $1.25 billion, a P/E ratio of -1.92 and a beta of 2.22. The firm’s fifty day simple moving average is $1.81 and its 200 day simple moving average is $1.55.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Tuesday, May 5th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $979.19 million. During the same period in the previous year, the firm earned ($0.58) EPS. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Analysts anticipate that AMC Entertainment Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at AMC Entertainment

In other news, CEO Adam M. Aron acquired 250,000 shares of the stock in a transaction on Tuesday, May 19th. The stock was acquired at an average cost of $1.38 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,437,020 shares in the company, valued at approximately $3,363,087.60. This trade represents a 11.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On AMC Entertainment

A number of large investors have recently modified their holdings of AMC. Triumph Capital Management increased its stake in shares of AMC Entertainment by 139.0% in the 4th quarter. Triumph Capital Management now owns 19,000 shares of the company’s stock valued at $30,000 after purchasing an additional 11,050 shares during the last quarter. Royal Bank of Canada lifted its position in shares of AMC Entertainment by 90.7% during the 1st quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock worth $33,000 after buying an additional 16,011 shares during the last quarter. Pitcairn Co. acquired a new stake in AMC Entertainment in the second quarter valued at about $34,000. Powell Investment Advisors LLC acquired a new stake in AMC Entertainment in the fourth quarter valued at about $39,000. Finally, Corient Private Wealth LLC bought a new position in AMC Entertainment in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

About AMC Entertainment

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.