The stock of AMC Entertainment Holdings Inc (NYSE:AMC) gapped up by $0.02 today and has $42.85 target or 33.00% above today’s $32.22 share price. The 6 months technical chart setup indicates low risk for the $3.17 billion company. The gap was reported on Oct, 4 by Barchart.com. If the $42.85 price target is reached, the company will be worth $1.05 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.63% or $1.13 during the last trading session, hitting $32.22. About 256,268 shares traded hands or 21.36% up from the average. AMC Entertainment Holdings Inc (NYSE:AMC) has risen 29.50% since March 1, 2016 and is uptrending. It has outperformed by 17.29% the S&P500.
Analysts await AMC Entertainment Holdings Inc (NYSE:AMC) to report earnings on November, 7. They expect $0.24 earnings per share, up 100.00% or $0.12 from last year’s $0.12 per share. AMC’s profit will be $23.61M for 33.56 P/E if the $0.24 EPS becomes a reality. After $0.24 actual earnings per share reported by AMC Entertainment Holdings Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
AMC Entertainment Holdings Inc (NYSE:AMC) Ratings Coverage
Out of 9 analysts covering AMC Entertainment (NYSE:AMC), 8 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 89% are positive. AMC Entertainment has been the topic of 16 analyst reports since July 22, 2015 according to StockzIntelligence Inc. B. Riley & Co downgraded the shares of AMC in a report on Wednesday, March 30 to “Neutral” rating. Topeka Capital Markets maintained the shares of AMC in a report on Friday, October 2 with “Hold” rating. The stock of AMC Entertainment Holdings Inc (NYSE:AMC) earned “Buy” rating by M Partners on Wednesday, July 22. The rating was maintained by M Partners with “Buy” on Wednesday, October 21. The stock of AMC Entertainment Holdings Inc (NYSE:AMC) has “Outperform” rating given on Monday, June 13 by Credit Suisse. RBC Capital Markets upgraded the shares of AMC in a report on Tuesday, January 26 to “Outperform” rating. The rating was upgraded by B. Riley & Co to “Buy” on Thursday, June 16. Topeka Capital Markets maintained it with “Hold” rating and $26 target price in Wednesday, January 6 report. The rating was maintained by Stifel Nicolaus with “Buy” on Monday, January 4. The rating was initiated by Credit Suisse with “Outperform” on Friday, February 5.
According to Zacks Investment Research, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas.”
Insitutional Activity: The institutional sentiment increased to 1.52 in Q2 2016. Its up 0.44, from 1.08 in 2016Q1. The ratio increased, as 16 funds sold all AMC Entertainment Holdings Inc shares owned while 30 reduced positions. 13 funds bought stakes while 57 increased positions. They now own 20.69 million shares or 1.05% less from 20.91 million shares in 2016Q1.
Parametric Port Assoc Ltd Liability Corp has 124,426 shares for 0.01% of their US portfolio. Moreover, Prudential Fin has 0.01% invested in AMC Entertainment Holdings Inc (NYSE:AMC) for 191,250 shares. Manatuck Hill Limited Liability Company has 189,400 shares for 2.31% of their US portfolio. Picton Mahoney Asset Mngmt last reported 0.05% of its portfolio in the stock. Cornerstone Cap Management Hldg Limited Liability Corp has 0.01% invested in the company for 45,300 shares. Tower Rech Cap Ltd Llc (Trc) last reported 0% of its portfolio in the stock. Wellington Shields Mgmt holds 0.09% or 20,250 shares in its portfolio. Fdx holds 0.02% or 17,078 shares in its portfolio. Blackrock Advsr Lc accumulated 0% or 10,386 shares. Millennium Mgmt Llc, a New York-based fund reported 765,266 shares. Gsa Capital Partners Llp, a United Kingdom-based fund reported 17,968 shares. Blackrock Investment Mgmt Lc has 0% invested in the company for 88,039 shares. First Trust Limited Partnership accumulated 0% or 51,172 shares. State Board Of Administration Of Florida Retirement Systems accumulated 0% or 7,521 shares. Moreover, Spark Invest Mngmt Ltd has 0.17% invested in AMC Entertainment Holdings Inc (NYSE:AMC) for 67,300 shares.
More news for AMC Entertainment Holdings Inc (NYSE:AMC) were recently published by: Wsj.com, which released: “AMC Entertainment Revenue Falls on Box Office Declines” on August 01, 2016. Businesswire.com‘s article titled: “AMC Entertainment Holdings, Inc. to Participate in September Investor Conferences” and published on September 06, 2016 is yet another important article.
AMC Company Profile
AMC Entertainment Holdings, Inc., incorporated on June 6, 2007, is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc. (AMCE), American Multi-Cinema, Inc. (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. The Firm operates through theatrical exhibition activities segment. The Firm owns, operates or holds interests in approximately 390 theatres with a total of over 5,420 screens located in the United States.
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