AMC Entertainment (NYSE:AMC) Shares Up 6%

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price shot up 6% during trading on Thursday . The company traded as high as $40.74 and last traded at $40.20. 813,491 shares were traded during trading, a decline of 99% from the average session volume of 134,514,016 shares. The stock had previously closed at $37.91.

A number of brokerages recently commented on AMC. Citigroup raised their target price on AMC Entertainment from $3.70 to $5.00 and gave the company a “sell” rating in a report on Thursday, August 19th. Macquarie cut AMC Entertainment from a “neutral” rating to an “underperform” rating in a report on Wednesday, September 1st. Zacks Investment Research upgraded AMC Entertainment from a “sell” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday. Finally, Wedbush restated a “hold” rating and set a $7.50 target price on shares of AMC Entertainment in a report on Thursday, August 12th. Five analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.64.

The firm has a market cap of $20.48 billion, a PE ratio of -2.41 and a beta of 1.27. The firm has a 50 day moving average price of $39.91 and a 200-day moving average price of $33.30.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Sunday, August 8th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.20. The business had revenue of $444.70 million for the quarter, compared to analyst estimates of $382.11 million. During the same period last year, the business posted ($5.44) EPS. AMC Entertainment’s revenue was up 2252.9% on a year-over-year basis. As a group, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -2.75 earnings per share for the current year.

In other news, CFO Sean D. Goodman sold 45,405 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $34.79, for a total transaction of $1,579,639.95. Following the sale, the chief financial officer now owns 111,300 shares of the company’s stock, valued at approximately $3,872,127. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wagner Wealth Management LLC acquired a new position in AMC Entertainment during the second quarter worth approximately $26,000. Samalin Investment Counsel LLC acquired a new position in AMC Entertainment during the second quarter worth approximately $27,000. Evolution Wealth Advisors LLC acquired a new position in AMC Entertainment during the second quarter worth approximately $28,000. Sittner & Nelson LLC acquired a new position in AMC Entertainment during the second quarter worth approximately $28,000. Finally, Rockefeller Capital Management L.P. acquired a new position in AMC Entertainment during the second quarter worth approximately $28,000. 24.90% of the stock is currently owned by institutional investors.

About AMC Entertainment (NYSE:AMC)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

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