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Investors rush into movie theater stocks

  • The rally is on for exhibitor stocks today after Regal Entertainment (RGC +5.8%) reported strong earnings last night.
  • The 10% gain in concessions per patron was an eye-catcher from the Regal report, as well as management's favorable read on Q4 traffic.
  • Gainers include AMC Entertainment (AMC +5.6%), Cinemark Holdings (CNK +3%), Carmike Cinemas (CKEC +3%), Marcus Corp (MCS +2.8%), and Reading International (RDI +1.3%). Sector cousins RealD (RLD +4.9%) and IMAX (IMAX +1.7%) are also higher.
  • Also of note is the Chinese M&A-fueled rally going on in the broad leisure and lodging sectors. Movie chains have long been considered potential targets of China-based media companies.
  • Previously: Lodging and leisure names perk up (Oct. 28 2015)

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RGC-OLD--
Regal Entertainment Group