AMC Entertainment (NYSE:AMC) Stock Price Up 7.8% – Here’s What Happened

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded up 7.8% during mid-day trading on Wednesday . The stock traded as high as $1.83 and last traded at $1.8550. 32,163,578 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 37,652,141 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

AMC has been the subject of several recent research reports. Roth Capital set a $1.50 price objective on AMC Entertainment in a report on Tuesday, May 19th. Wall Street Zen raised shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Citigroup boosted their price target on shares of AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a research note on Thursday, May 7th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of AMC Entertainment in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.24.

AMC Entertainment Stock Performance

The business’s 50-day moving average is $1.85 and its two-hundred day moving average is $1.54. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -1.78 and a beta of 2.08.

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

Insider Activity

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

Institutional Investors Weigh In On AMC Entertainment

Several large investors have recently modified their holdings of AMC. UBS Group AG lifted its holdings in shares of AMC Entertainment by 4,537.9% during the 3rd 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 in the last quarter. Geode Capital Management LLC increased its stake in AMC Entertainment by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 12,254,550 shares of the company’s stock worth $19,121,000 after purchasing an additional 1,029,668 shares in the last quarter. State Street Corp increased its stake in AMC Entertainment by 12.7% during the 4th quarter. State Street Corp now owns 11,349,046 shares of the company’s stock worth $17,705,000 after purchasing an additional 1,278,974 shares in the last quarter. Renaissance Technologies LLC raised its holdings in AMC Entertainment by 20.6% during 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 during the period. Finally, JPMorgan Chase & Co. raised its holdings in AMC Entertainment by 87.6% during the 4th 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. 28.80% of the stock is currently owned by institutional investors.

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.