AMC Entertainment Holdings, Inc. (AMC) Upgraded at Zacks Investment Research
AMC Entertainment Holdings, Inc. (NYSE:AMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
A number of other equities research analysts have also recently issued reports on AMC. Citigroup Inc. dropped their price objective on AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, June 9th. MKM Partners reissued a “buy” rating and issued a $36.00 target price (down from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Credit Suisse Group lowered 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. BidaskClub lowered shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Finally, Loop Capital reaffirmed a “buy” rating and set a $39.00 price target on shares of AMC Entertainment Holdings in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.90.
Shares of AMC Entertainment Holdings (AMC) traded up 8.16% during midday trading on Tuesday, reaching $15.90. The company’s stock had a trading volume of 3,292,743 shares. The company has a 50-day moving average price of $14.34 and a 200-day moving average price of $22.32. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The firm’s market cap is $2.08 billion.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) EPS 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 analyst estimates of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. Equities analysts expect that AMC Entertainment Holdings will post ($1.02) earnings per share for the current year.
AMC Entertainment Holdings announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 58% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
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In other AMC Entertainment Holdings news, Director Jack Qunyao Gao bought 7,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were bought at an average cost of $13.47 per share, with a total value of $94,290.00. Following the completion of the acquisition, the director now owns 10,500 shares of the company’s stock, valued at $141,435. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam M. Aron bought 35,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. Insiders acquired a total of 62,000 shares of company stock valued at $896,940 in the last quarter. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in AMC Entertainment Holdings by 897.0% during the first quarter. Russell Investments Group Ltd. now owns 80,049 shares of the company’s stock worth $2,517,000 after buying an additional 72,020 shares in the last quarter. Wells Fargo & Company MN increased its stake in AMC Entertainment Holdings by 70.4% during the 1st quarter. Wells Fargo & Company MN now owns 48,634 shares of the company’s stock worth $1,529,000 after acquiring an additional 20,090 shares during the period. Great West Life Assurance Co. Can increased its stake in AMC Entertainment Holdings by 241.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after acquiring an additional 3,932 shares during the period. Bank of New York Mellon Corp increased its stake in AMC Entertainment Holdings by 35.7% during the 1st quarter. Bank of New York Mellon Corp now owns 440,593 shares of the company’s stock worth $13,856,000 after acquiring an additional 115,861 shares during the period. Finally, Swiss National Bank increased its stake in AMC Entertainment Holdings by 100.8% during the 1st quarter. Swiss National Bank now owns 85,641 shares of the company’s stock worth $2,693,000 after acquiring an additional 43,000 shares during the period. Institutional investors and hedge funds own 46.99% 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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