AMC Entertainment (NYSE:AMC) Sees Large Volume Increase on Earnings Beat

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares saw strong trading volume on Monday after the company announced better than expected quarterly earnings. Approximately 62,610,603 shares changed hands during mid-day trading, an increase of 66% from the previous session’s volume of 37,815,730 shares.The stock last traded at $2.1550 and had previously closed at $1.94.

The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.50 billion.

AMC Entertainment News Roundup

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

• Positive Sentiment: AMC posted a surprise adjusted profit of $0.14 per share versus expectations for a small loss, while revenue came in at $1.60 billion, marking the company’s highest quarterly revenue in its 106-year history. Reuters article
• Positive Sentiment: Strong box office performance, including major help from blockbuster films and a massive opening weekend for The Odyssey, boosted ticket sales and supported the view that moviegoing demand is recovering. MSN article
• Positive Sentiment: AMC also reported record adjusted EBITDA and improved operating momentum, which suggests better profitability and cash generation than investors had been expecting. Business Wire press release

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings raised AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Citigroup boosted their price target on AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a report on Thursday, May 7th. Roth Capital set a $1.50 price target on AMC Entertainment in a research note on Tuesday, May 19th. Texas Capital raised shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.80.

Insider Activity at AMC Entertainment

In related news, CEO Adam M. Aron acquired 250,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $1.38 per share, with a total value of $345,000.00. Following the acquisition, the chief executive officer directly owned 2,437,020 shares of the company’s stock, 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 this link. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in the company. UBS Group AG lifted its position in shares of AMC Entertainment by 4,537.9% in the third quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after buying an additional 22,694,842 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $19,121,000 after buying an additional 1,029,668 shares in the last quarter. State Street Corp grew its holdings in AMC Entertainment by 12.7% during the 4th quarter. State Street Corp now owns 11,349,046 shares of the company’s stock valued at $17,705,000 after buying an additional 1,278,974 shares in the last quarter. Renaissance Technologies LLC grew its holdings in 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 buying an additional 1,369,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AMC Entertainment by 87.6% in the 4th quarter. JPMorgan Chase & Co. now owns 3,120,561 shares of the company’s stock worth $4,868,000 after acquiring an additional 1,457,493 shares during the last quarter. 28.80% of the stock is owned by institutional investors.

AMC Entertainment Stock Performance

The firm has a market capitalization of $2.21 billion, a PE ratio of -2.33 and a beta of 2.08. The company has a fifty day moving average price of $1.92 and a 200-day moving average price of $1.56.

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.