Does This Provide a Reason to Buy AMC Entertainment Holdings, Inc. (AMC)? The Stock Has Formed Bullish Wedge Up Chart Pattern

July 14, 2018 - By Elizabeth Bryant

AMC Entertainment Holdings, Inc. (NYSE:AMC) Logo

Investors sentiment decreased to 0.81 in 2018 Q1. Its down 0.10, from 0.91 in 2017Q4. It is negative, as 34 investors sold AMC Entertainment Holdings, Inc. shares while 46 reduced holdings. 25 funds opened positions while 40 raised stakes. 47.77 million shares or 8.18% less from 52.03 million shares in 2017Q4 were reported.
Royal State Bank Of Canada holds 41,863 shares. Quinn Opportunity Ptnrs Lc holds 0.13% of its portfolio in AMC Entertainment Holdings, Inc. (NYSE:AMC) for 70,500 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 4,213 shares or 0% of all its holdings. 1.92 million were reported by Dimensional Fund L P. Tiaa Cref Invest Mngmt Lc holds 125,543 shares. Us Commercial Bank De has 2,173 shares. Gamco Invsts Et Al reported 19,000 shares stake. Fifth Third Fincl Bank has 0% invested in AMC Entertainment Holdings, Inc. (NYSE:AMC). Metropolitan Life Insurance Com New York stated it has 18,050 shares. Suntrust Banks stated it has 0.01% of its portfolio in AMC Entertainment Holdings, Inc. (NYSE:AMC). Intll Gp accumulated 34,071 shares. Cim Invest Mangement Inc has 0.1% invested in AMC Entertainment Holdings, Inc. (NYSE:AMC) for 20,839 shares. Tricadia Cap Ltd Company, a New York-based fund reported 300,000 shares. Mittleman Brothers Limited Liability Corp reported 3.31M shares stake. Blackrock reported 3.37M shares.

The stock of AMC Entertainment Holdings, Inc. (AMC) formed an up wedge with $18.07 target or 6.00 % above today’s $17.05 share price. The 6 months wedge indicates low risk for the $2.18B company. If the $18.07 price target is reached, the company will be worth $131.04 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.29% or $0.05 during the last trading session, reaching $17.05. About 1.44M shares traded. AMC Entertainment Holdings, Inc. (NYSE:AMC) has declined 35.68% since July 14, 2017 and is downtrending. It has underperformed by 48.25% the S&P500.

AMC Entertainment Holdings, Inc. (NYSE:AMC) Ratings Coverage

Among 6 analysts covering AMC Entertainment (NYSE:AMC), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. AMC Entertainment had 14 analyst reports since February 6, 2018 according to SRatingsIntel. The rating was maintained by Wedbush with “Buy” on Tuesday, February 20. The firm has “Buy” rating given on Thursday, April 26 by FBR Capital. On Friday, March 2 the stock rating was maintained by RBC Capital Markets with “Hold”. The company was upgraded on Wednesday, May 2 by Wedbush. As per Monday, March 5, the company rating was maintained by William Blair. The firm has “Buy” rating by Wedbush given on Thursday, June 21. As per Thursday, March 1, the company rating was maintained by FBR Capital. Wedbush upgraded the stock to “Buy” rating in Monday, April 9 report. The firm has “Buy” rating given on Tuesday, May 8 by Wedbush. The rating was maintained by FBR Capital on Tuesday, June 19 with “Buy”.

More notable recent AMC Entertainment Holdings, Inc. (NYSE:AMC) news were published by: Seekingalpha.com which released: “AMC expands movie subscription service” on June 20, 2018, also Benzinga.com with their article: “Imperial Buys A Ticket For AMC, Cinemark” published on July 11, 2018, Seekingalpha.com published: “AMC Entertainment completes asset deals” on July 06, 2018. More interesting news about AMC Entertainment Holdings, Inc. (NYSE:AMC) were released by: Seekingalpha.com and their article: “AMC: A Buy Because Of Its New Sustainable Subscription Model” published on July 12, 2018 as well as Fool.com‘s news article titled: “There’s 1 Potential Danger in AMC’s New Subscription Plan — and It’s Not MoviePass” with publication date: July 11, 2018.

AMC Entertainment Holdings, Inc., through its subsidiaries, operates in the theatrical exhibition business. The company has market cap of $2.18 billion. It owns, operates, or has interests in theatres. It currently has negative earnings. As of December 31, 2016, the firm owned, operated, or had interests in 660 theatres with 8,293 screens in the United States; and 246 theatres and 2,265 screens in the United Kingdom, Spain, Italy, Germany, Austria, Portugal, and Ireland.

AMC Entertainment Holdings, Inc. (NYSE:AMC) Ratings Chart

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