AMC Entertainment (NYSE:AMC) Trading 8.7% Higher – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) was up 8.7% during mid-day trading on Monday . The stock traded as high as $2.88 and last traded at $2.9350. Approximately 23,190,597 shares traded hands during trading, a decline of 36% from the average session volume of 36,427,973 shares. The stock had previously closed at $2.70.

Key AMC Entertainment News

Here are the key news stories impacting AMC Entertainment this week:

• Positive Sentiment: Debt maturities pushed back: AMC launched a roughly $3.97 billion refinancing plan, including $2 billion of first-lien notes due in 2031 and an $850 million first-lien term loan. Proceeds are intended to refinance or repurchase the company’s 7.5% senior secured notes due 2029, giving AMC additional time to manage its obligations and easing immediate liquidity concerns. AMC First-Lien Notes and Term Loan Announcement AMC Refinancing and Maturity Extension
• Positive Sentiment: More constructive earnings outlook: Zacks upgraded AMC to Rank #2, or “Buy,” citing improving earnings prospects. Separate screening reports identified AMC as a momentum stock trading at a potentially attractive valuation, which may encourage additional short-term buying. AMC Upgraded to Buy
• Positive Sentiment: Promotional theater programming: AMC is partnering with Ice Nine Kills on a classic horror movie series scheduled for October, potentially supporting attendance, concession sales and loyalty-member engagement. AMC and Ice Nine Kills Horror Movie Series

Wall Street Analyst Weigh In

AMC has been the subject of a number of analyst reports. Weiss Ratings raised shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. Needham & Company LLC set a $3.50 price target on shares of AMC Entertainment in a report on Tuesday, July 21st. Benchmark restated a “buy” rating and issued a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Citigroup reaffirmed a “sell” rating on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, Texas Capital upgraded AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, AMC Entertainment has a consensus rating of “Hold” and an average price target of $2.53.

AMC Entertainment Trading Up 2.6%

The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -2.77 and a beta of 2.01. The stock has a fifty day moving average price of $2.54 and a 200 day moving average price of $1.94.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.50 billion. On average, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Asset Management LLC bought a new position in AMC Entertainment in the second quarter worth $28,000. Royal Bank of Canada lifted its stake in AMC Entertainment by 90.7% during the first quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock worth $33,000 after purchasing an additional 16,011 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of AMC Entertainment by 64.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock worth $48,000 after buying an additional 10,003 shares in the last quarter. SummitTX Capital L.P. acquired a new position in shares of AMC Entertainment in the 1st quarter worth approximately $73,000. Finally, Essential Partners LLC lifted its position in shares of AMC Entertainment by 244,580.6% during the 1st quarter. Essential Partners LLC now owns 88,085 shares of the company’s stock worth $86,000 after buying an additional 88,049 shares during the period. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is a movie exhibition company that operates cinemas in the United States and internationally. Its theaters show first-run films and offer a range of viewing formats, including premium large-screen, enhanced sound and 3D experiences, along with reserved seating and other in-theater amenities.

The company generates revenue primarily from movie admissions and the sale of food and beverages, including popcorn, drinks and other concessions. AMC also operates advertising and promotional programs, loyalty offerings through AMC Stubs, and initiatives that extend its cinema brand beyond traditional theater operations, including the sale of AMC-branded popcorn through retail channels.

AMC traces its history to 1920, when the Dubinsky Brothers opened their first theater in Kansas City, Missouri.