Wedbush Reaffirms “Buy” Rating for AMC Entertainment Holdings, Inc. (AMC)
Wedbush reiterated their buy rating on shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) in a research report released on Wednesday morning. Wedbush also issued estimates for AMC Entertainment Holdings’ Q1 2018 earnings at $0.24 EPS and FY2018 earnings at $1.18 EPS.
A number of other brokerages have also recently weighed in on AMC. FBR & Co reiterated a buy rating and issued a $37.00 price target on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Barclays PLC cut AMC Entertainment Holdings from an overweight rating to an equal weight rating and lowered their price target for the company from $31.00 to $25.00 in a research report on Wednesday, July 19th. Citigroup Inc. lowered their price target on AMC Entertainment Holdings from $36.00 to $35.00 and set a buy rating on the stock in a research report on Friday, June 9th. B. Riley raised AMC Entertainment Holdings to a buy rating and set a $49.50 price objective on the stock in a research note on Tuesday, May 9th. Finally, MKM Partners reissued a buy rating and issued a $36.00 price objective (down previously from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $31.46.
Shares of AMC Entertainment Holdings (NYSE:AMC) traded down 0.66% during midday trading on Wednesday, hitting $15.10. 5,685,509 shares of the company were exchanged. AMC Entertainment Holdings has a one year low of $14.80 and a one year high of $35.65. The company’s 50 day moving average price is $22.18 and its 200 day moving average price is $27.80. The firm has a market cap of $831.68 million, a P/E ratio of 16.59 and a beta of 1.32.
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In other news, CEO Adam M. Aron purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $24.72 per share, with a total value of $247,200.00. Following the completion of the purchase, the chief executive officer now directly owns 90,426 shares of the company’s stock, valued at approximately $2,235,330.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin M. Connor purchased 4,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were purchased at an average cost of $23.52 per share, for a total transaction of $94,080.00. Following the purchase, the senior vice president now directly owns 40,705 shares of the company’s stock, valued at $957,381.60. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock valued at $105,428,000 after buying an additional 3,344,988 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $73,011,000. Vanguard Group Inc. raised its position in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock valued at $152,228,000 after buying an additional 1,811,552 shares during the period. Asturias Capital LLC purchased a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $20,796,000. Finally, UBS Oconnor LLC purchased a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $20,708,000. 41.43% of the stock is currently owned by institutional investors and hedge funds.
About AMC Entertainment Holdings
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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