Janus Henderson Group PLC Invests $63.79 Million in AMC Entertainment Holdings, Inc. (AMC) Stock
Janus Henderson Group PLC purchased a new stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,803,905 shares of the company’s stock, valued at approximately $63,789,000. Janus Henderson Group PLC owned 2.14% of AMC Entertainment Holdings as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in AMC. Western Standard LLC purchased a new position in shares of AMC Entertainment Holdings in the second quarter valued at about $3,872,000. TPG Group Holdings SBS Advisors Inc. lifted its position in shares of AMC Entertainment Holdings by 263.6% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 135,647 shares of the company’s stock worth $3,086,000 after buying an additional 98,344 shares in the last quarter. Northern Right Capital Management L.P. purchased a new stake in shares of AMC Entertainment Holdings in the second quarter worth about $3,850,000. GMT Capital Corp purchased a new stake in shares of AMC Entertainment Holdings in the second quarter worth about $7,050,000. Finally, Zacks Investment Management purchased a new stake in shares of AMC Entertainment Holdings in the second quarter worth about $899,000. 46.99% of the stock is owned by institutional investors and hedge funds.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). The firm 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%. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.78%. The ex-dividend date was Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio is currently -125.00%.
AMC Entertainment Holdings announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts recently commented on AMC shares. Credit Suisse Group decreased their target price on AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a research report on Friday, June 23rd. BidaskClub cut AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Loop Capital reaffirmed a “buy” rating and set a $39.00 target price on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Zacks Investment Research cut AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Barclays PLC cut AMC Entertainment Holdings from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $31.00 to $25.00 in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.39.
In other AMC Entertainment Holdings news, CEO Adam M. Aron purchased 35,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $15.79 per share, with a total value of $552,650.00. Following the acquisition, the chief executive officer now owns 125,426 shares of the company’s stock, valued at approximately $1,980,476.54. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack Qunyao Gao purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $12.50 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director now directly owns 30,500 shares in the company, valued at approximately $381,250. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 62,000 shares of company stock valued at $896,940. 0.80% of the stock is owned by company insiders.
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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