AMC Entertainment (NYSE:AMC) Shares Gap Up – Still a Buy?

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) gapped up before the market opened on Wednesday . The stock had previously closed at $1.96, but opened at $2.0450. AMC Entertainment shares last traded at $2.0450, with a volume of 18,001,098 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Benchmark raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Wednesday, May 6th. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup raised their price objective on AMC Entertainment from $1.10 to $1.20 and gave the company a “sell” rating in a research report on Thursday, May 7th. Finally, Roth Capital set a $1.50 price objective on AMC Entertainment in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $1.80.

AMC Entertainment Price Performance

The business’s 50-day moving average price is $1.87 and its 200 day moving average price is $1.54. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -1.92 and a beta of 2.08.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.36) earnings per share 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 analyst estimates of $979.19 million. During the same period last year, the firm posted ($0.58) earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that AMC Entertainment Holdings, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AMC Entertainment by 21.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 240,255 shares of the company’s stock valued at $690,000 after purchasing an additional 41,860 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of AMC Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 710,181 shares of the company’s stock worth $2,038,000 after buying an additional 164,740 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of AMC Entertainment by 19.8% in the second quarter. JPMorgan Chase & Co. now owns 1,820,405 shares of the company’s stock worth $5,643,000 after buying an additional 300,376 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of AMC Entertainment by 89.6% in the second quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock worth $173,000 after buying an additional 26,310 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in AMC Entertainment by 9.2% in the second quarter. Hsbc Holdings PLC now owns 102,506 shares of the company’s stock valued at $315,000 after acquiring an additional 8,629 shares in the last quarter. Hedge funds and other institutional investors 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.