AMC Entertainment Stock Gains After Record-Breaking Weekend

"Avengers: Endgame" brought in more than 2.6 million ticket sales on Saturday for AMC

Managing Editor
Apr 29, 2019 at 10:54 AM
facebook twitter linkedin

On the heels of an "Avengers: Endgame" record-breaking weekend, shares of AMC Entertainment Holdings Inc (NYSE:AMC) are up 0.6% at $15.49 in this morning's trading. The movie theater chain reported single-day record highs for attendance, and food and beverage sales this past weekend, the latter marking all-time highs both Friday and Saturday. Specifically, for food & beverage sales AMC made $13 million Friday and another $15 million Saturday, with 2.6 million tickets sold on the latter day.

Despite the impressive start, Wedbush lowered its price target to $20 from $22, though  still representing a 29% upside to Friday's close. Overall analysts were leaning optimistic coming into today, with five of nine covering firms sporting "strong buy" recommendations, and the remaining carrying a tepid "hold." Just near Wedbush's adjusted price, AMC's average 12-month price target stands at $19.24.

Short interest on the movie theater giant fell 8.8% during the past two reporting periods, and now accounts for 17.3% of the stock's total available float. This means that at AMC's average pace of daily trading, it would take shorts over a week to buy back their bearish bets.

On the charts, AMC Entertainment stock has had a volatile run, most recently seen stuck below the $16 ceiling of resistance, despite a recent bull-gap breakout attempt that sent the shares to a nearly five-month peak. Regardless, the equity has tacked on 25% year-to-date. Looking ahead, AMC is scheduled to report first-quarter results before the market opens, next Thursday, May 9.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners