Adam M. Aron Acquires 35,000 Shares of AMC Entertainment Holdings, Inc. (AMC) Stock
AMC Entertainment Holdings, Inc. (NYSE:AMC) CEO Adam M. Aron bought 35,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were bought at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
AMC Entertainment Holdings, Inc. (NYSE:AMC) opened at 16.95 on Friday. The company has a 50 day moving average of $14.70 and a 200 day moving average of $23.68. The company’s market capitalization is $2.22 billion. AMC Entertainment Holdings, Inc. has a 1-year low of $12.05 and a 1-year high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last issued its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company earned $0.24 earnings per share. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, analysts predict that AMC Entertainment Holdings, Inc. will post ($1.02) earnings per share for the current fiscal year.
AMC Entertainment Holdings declared that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 58% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s payout ratio is -125.00%.
AMC has been the topic of several research analyst reports. Barclays PLC set a $16.00 target price on shares of AMC Entertainment Holdings and gave the stock a “hold” rating in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a report on Monday, June 26th. Loop Capital restated a “buy” rating and set a $39.00 target price on shares of AMC Entertainment Holdings in a report on Monday, July 10th. Credit Suisse Group dropped their target price on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Finally, TheStreet downgraded shares of AMC Entertainment Holdings from a “b-” rating to a “c+” rating in a report on Friday, May 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $28.76.
Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of AMC Entertainment Holdings during the first quarter worth approximately $141,000. Pacer Advisors Inc. purchased a new stake in AMC Entertainment Holdings in the 1st quarter valued at $157,000. Seven Eight Capital LP purchased a new stake in AMC Entertainment Holdings in the 2nd quarter valued at $125,000. Great West Life Assurance Co. Can raised its position in AMC Entertainment Holdings by 241.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock valued at $174,000 after buying an additional 3,932 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in AMC Entertainment Holdings by 574.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after buying an additional 6,055 shares during the last quarter. 46.96% of the stock is currently owned by institutional investors.
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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