AMC Entertainment Holdings, Inc. (AMC - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company — as the stock is now up 21.1% in the past one-month time frame.
The move came after the company announced that it had closed a sale leaseback deal worth $130 million with an anonymous American buyer. The deal allows the company to sell and simultaneously lease back seven theatre properties in New York, Indiana and New Jersey.
The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
AMC Entertainment Holdings currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the Leisure and Recreation Services industry is Camping World Holdings Inc. (CWH - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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