Elk Creek Partners LLC Has $11.14 Million Holdings in AMC Entertainment Holdings, Inc. (AMC)
Elk Creek Partners LLC decreased its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 489,642 shares of the company’s stock after selling 11,765 shares during the period. Elk Creek Partners LLC owned 0.37% of AMC Entertainment Holdings worth $11,139,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Concourse Capital Management LLC bought a new position in shares of AMC Entertainment Holdings during the second quarter valued at approximately $1,100,000. Ameriprise Financial Inc. grew its holdings in shares of AMC Entertainment Holdings by 17.0% during the second quarter. Ameriprise Financial Inc. now owns 1,331,224 shares of the company’s stock valued at $30,284,000 after buying an additional 193,855 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of AMC Entertainment Holdings by 10.8% during the second quarter. Teachers Advisors LLC now owns 99,936 shares of the company’s stock valued at $2,274,000 after buying an additional 9,705 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of AMC Entertainment Holdings during the second quarter valued at approximately $125,000. Finally, Mittleman Brothers LLC grew its holdings in shares of AMC Entertainment Holdings by 90.1% during the second quarter. Mittleman Brothers LLC now owns 1,442,941 shares of the company’s stock valued at $32,827,000 after buying an additional 684,072 shares during the last quarter. 46.96% of the stock is owned by institutional investors and hedge funds.
Shares of AMC Entertainment Holdings, Inc. (NYSE AMC) traded up 5.61% during midday trading on Friday, reaching $16.95. 6,673,207 shares of the company traded hands. AMC Entertainment Holdings, Inc. has a 1-year low of $12.05 and a 1-year high of $35.65. The company’s market capitalization is $2.22 billion. The company has a 50 day moving average price of $14.70 and a 200 day moving average price of $23.68.
AMC Entertainment Holdings (NYSE:AMC) last released its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.41). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. On average, analysts expect that AMC Entertainment Holdings, Inc. will post ($1.02) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio is presently -125.00%.
AMC Entertainment Holdings announced that its board has approved a stock repurchase plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 58% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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In related news, Director Jack Qunyao Gao bought 20,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average price of $12.50 per share, with a total value of $250,000.00. Following the transaction, the director now owns 30,500 shares in the company, valued at $381,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 cost of $15.79 per share, for a total transaction of $552,650.00. Following the transaction, the chief executive officer now owns 125,426 shares in the company, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 62,000 shares of company stock worth $896,940. 0.80% of the stock is owned by insiders.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, June 7th. Citigroup Inc. cut their price target on shares of AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, June 9th. MKM Partners reiterated a “buy” rating and set a $36.00 price target (down previously from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. BidaskClub cut shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Credit Suisse Group cut their price target 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. AMC Entertainment Holdings presently has an average rating of “Hold” and a consensus price target of $28.76.
AMC Entertainment Holdings 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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