AMC Entertainment (NYSE:AMC) Reaches New 1-Year High – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday. The company traded as high as $3.43 and last traded at $3.4450, with a volume of 3,749,702 shares changing hands. The stock had previously closed at $3.28.

Analysts Set New Price Targets

A number of research firms have weighed in on AMC. Benchmark reissued a “buy” rating and issued a $3.00 target price (up from $2.50) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Citigroup reiterated a “sell” rating and set a $2.20 price target (up from $1.80) on shares of AMC Entertainment in a research report on Friday, September 25th. Roth Capital reiterated a “neutral” rating on shares of AMC Entertainment in a report on Friday, October 23rd. Texas Capital upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, UBS Group reaffirmed a “buy” rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2.67.

Check Out Our Latest Stock Analysis on AMC

AMC Entertainment Price Performance

The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -3.27 and a beta of 2.03. The stock has a 50-day moving average price of $2.83 and a 200 day moving average price of $1.99.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC lifted its position in AMC Entertainment by 24.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,162 shares of the company’s stock worth $51,000 after acquiring an additional 3,393 shares during the period. Profund Advisors LLC boosted its position in shares of AMC Entertainment by 40.0% during the 3rd quarter. Profund Advisors LLC now owns 17,888 shares of the company’s stock worth $54,000 after purchasing an additional 5,113 shares in the last quarter. Sterling Capital Management LLC grew its position in AMC Entertainment by 41.7% during the third quarter. Sterling Capital Management LLC now owns 17,797 shares of the company’s stock worth $53,000 after buying an additional 5,241 shares during the period. Integrated Wealth Concepts LLC increased its stake in AMC Entertainment by 64.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock valued at $48,000 after purchasing an additional 10,003 shares in the last quarter. Finally, Yousif Capital Management LLC purchased a new position in shares of AMC Entertainment in the third quarter valued at $32,000. 28.80% of the stock is owned by hedge funds and other institutional investors.

About AMC Entertainment

(Get Free Report)

AMC Entertainment Holdings, Inc is one of the world’s largest theatrical exhibition companies. Through its AMC Theatres and ODEON Cinemas Group brands, the company operates movie theaters that showcase new film releases and provide audiences with premium viewing experiences.

AMC’s theater offerings include standard and large-format screens, IMAX and Dolby Cinema experiences, reserved seating, mobile and online ticketing, and food and beverage services. The company also operates loyalty programs, including AMC Stubs, and offers subscription and membership products in select markets.

Founded in 1920, AMC serves moviegoers primarily in the United States and Europe.

Further Reading

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