AMC Entertainment (NYSE:AMC) Shares Gap Up – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.82, but opened at $2.96. AMC Entertainment shares last traded at $2.8850, with a volume of 19,118,180 shares trading hands.

Wall Street Analyst Weigh In

AMC has been the subject of several analyst reports. Citigroup reaffirmed a “sell” rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. Needham & Company LLC set a $3.50 target price on AMC Entertainment in a research report on Tuesday, July 21st. B. Riley Financial restated a “neutral” rating and set a $2.50 target price (up from $2.25) on shares of AMC Entertainment in a research note on Wednesday, July 22nd. Benchmark reaffirmed a “buy” rating and issued a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of AMC Entertainment from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.53.

AMC Entertainment Price Performance

The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -2.66 and a beta of 2.06. The stock has a 50-day moving average price of $2.11 and a 200 day moving average price of $1.62.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.50 billion. As a group, equities research analysts predict that AMC Entertainment Holdings, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at AMC Entertainment

In other news, CEO Adam M. Aron acquired 250,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $1.38 per share, with a total value of $345,000.00. Following the completion of the acquisition, the chief executive officer owned 2,437,020 shares of the company’s stock, valued at $3,363,087.60. The trade was a 11.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.43% of the company’s stock.

Institutional Trading of AMC Entertainment

Large investors have recently bought and sold shares of the business. UBS Group AG grew its position in AMC Entertainment by 4,537.9% during the 3rd quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after purchasing an additional 22,694,842 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of AMC Entertainment by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 12,254,550 shares of the company’s stock valued at $19,121,000 after buying an additional 1,029,668 shares during the last quarter. State Street Corp boosted its stake in shares of AMC Entertainment by 12.7% during the fourth quarter. State Street Corp now owns 11,349,046 shares of the company’s stock worth $17,705,000 after buying an additional 1,278,974 shares during the period. Renaissance Technologies LLC boosted its stake in shares of AMC Entertainment by 20.6% during the fourth 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. grew its holdings in shares of AMC Entertainment by 87.6% during the fourth 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 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.