AMC Entertainment Holdings, Inc. (AMC) Trading -0.6% Higher
AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded up 0.6% during trading on Wednesday . The stock traded as high as $15.95 and last traded at $15.80. 1,395,910 shares traded hands during trading, a decline of 57% from the average session volume of 3,272,200 shares. The stock had previously closed at $15.90.
AMC has been the topic of several recent research reports. B. Riley reaffirmed a “buy” rating and issued a $32.50 price objective (down previously from $42.50) on shares of AMC Entertainment Holdings in a research note on Monday, July 31st. William Blair initiated coverage on shares of AMC Entertainment Holdings in a research note on Friday, July 21st. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Credit Suisse Group lowered their price objective on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a research note on Friday, June 23rd. Finally, ValuEngine cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.90.
The company has a 50-day moving average of $14.34 and a 200 day moving average of $22.32. The stock’s market capitalization is $2.07 billion.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.41). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate 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 was up 57.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. On average, equities analysts predict that AMC Entertainment Holdings, Inc. will post ($1.02) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th were paid a $0.20 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.06%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
AMC Entertainment Holdings announced that its Board of Directors has approved a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 58% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Adam M. Aron purchased 35,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $15.79 per share, with a total value of $552,650.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 62,000 shares of company stock valued at $896,940. 0.80% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of AMC Entertainment Holdings in the 1st quarter valued at about $141,000. Pacer Advisors Inc. bought a new stake in AMC Entertainment Holdings during the 1st quarter worth approximately $157,000. Seven Eight Capital LP bought a new stake in AMC Entertainment Holdings during the 2nd quarter worth approximately $125,000. 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 purchasing an additional 3,932 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in AMC Entertainment Holdings by 574.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares in the last quarter. 46.99% of the stock is owned by institutional investors.
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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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