AMC Entertainment (NYSE:AMC) Upgraded to “Strong-Buy” at Texas Capital

Texas Capital upgraded shares of AMC Entertainment (NYSE:AMC) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Wednesday, May 6th. Citigroup raised their price objective on AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a research note on Thursday, May 7th. B. Riley Financial reaffirmed a “buy” rating on shares of AMC Entertainment in a report on Thursday, June 11th. Roth Capital set a $1.50 target price on AMC Entertainment in a research report on Tuesday, May 19th. Finally, Weiss Ratings raised AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.80.

AMC Entertainment Stock Performance

NYSE:AMC opened at $2.06 on Wednesday. AMC Entertainment has a 52 week low of $0.93 and a 52 week high of $3.60. The firm’s 50-day simple moving average is $1.88 and its 200 day simple moving average is $1.55. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -1.95 and a beta of 2.08.

AMC Entertainment (NYSE:AMC) last posted 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 business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.19 million. During the same period in the prior year, the company earned ($0.58) earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Sell-side analysts anticipate that AMC Entertainment will post -0.37 EPS for the current year.

Insider Buying and Selling

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 currently owned by corporate insiders.

Hedge Funds Weigh In On AMC Entertainment

A number of institutional investors have recently modified their holdings of the business. UBS Group AG boosted its stake in AMC Entertainment by 4,537.9% in the third quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock valued at $67,265,000 after buying an additional 22,694,842 shares in the last quarter. Geode Capital Management LLC increased its position 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 lifted its stake in shares of AMC Entertainment by 12.7% in the 4th quarter. State Street Corp now owns 11,349,046 shares of the company’s stock valued at $17,705,000 after acquiring an additional 1,278,974 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of AMC Entertainment by 20.6% during the 4th quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company’s stock valued at $12,495,000 after acquiring an additional 1,369,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AMC Entertainment by 87.6% during the 4th quarter. JPMorgan Chase & Co. now owns 3,120,561 shares of the company’s stock valued at $4,868,000 after acquiring an additional 1,457,493 shares in the last quarter. Institutional investors and hedge funds own 28.80% of the company’s stock.

AMC Entertainment Company Profile

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.