AMC Entertainment Holdings, Inc. (AMC) Trading Down 5.8%
AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded down 5.8% during trading on Monday . The company traded as low as $13.75 and last traded at $13.90. 3,914,836 shares were traded during trading, an increase of 19% from the average session volume of 3,293,860 shares. The stock had previously closed at $14.75.
A number of equities analysts have recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating and set a $33.00 price target (down from $39.00) on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Benchmark Co. cut shares of AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies set a $25.00 price objective on shares of AMC Entertainment Holdings and gave the company an “overweight” rating in a research note on Sunday, August 6th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $21.00 price objective (down from $30.00) on shares of AMC Entertainment Holdings in a research note on Monday, September 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. AMC Entertainment Holdings currently has an average rating of “Hold” and a consensus price target of $26.46.
The firm’s market cap is $1.82 billion. The firm’s 50-day moving average is $14.82 and its 200-day moving average is $20.05.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Equities analysts forecast that AMC Entertainment Holdings, Inc. will post ($1.12) earnings per share for the current year.
AMC Entertainment Holdings announced that its board has initiated a share buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 58% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment Holdings stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack Qunyao Gao purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $250,000.00. Following the purchase, the director now owns 30,500 shares in the company, valued at approximately $381,250. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 62,000 shares of company stock valued at $896,940. Insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of AMC Entertainment Holdings by 59.8% in the 1st quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock valued at $152,228,000 after purchasing an additional 1,811,552 shares during the last quarter. Schroder Investment Management Group grew its position in AMC Entertainment Holdings by 409.9% during the 2nd quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after acquiring an additional 3,108,645 shares during the last quarter. BlackRock Inc. grew its position in AMC Entertainment Holdings by 46,484.0% during the 1st quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after acquiring an additional 3,344,988 shares during the last quarter. Janus Henderson Group PLC bought a new stake in AMC Entertainment Holdings during the 2nd quarter worth $63,789,000. Finally, Dimensional Fund Advisors LP grew its position in AMC Entertainment Holdings by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,028,302 shares of the company’s stock worth $46,146,000 after acquiring an additional 540,854 shares during the last quarter. Institutional investors own 46.82% of the company’s stock.
AMC Entertainment Holdings Company Profile
AMC Entertainment Holdings, Inc 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. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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