Three Peaks Capital Management LLC Increases Stake in AMC Entertainment Holdings, Inc. (AMC)
Three Peaks Capital Management LLC grew its position in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 26.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 751,503 shares of the company’s stock after acquiring an additional 155,178 shares during the period. AMC Entertainment Holdings accounts for approximately 1.6% of Three Peaks Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Three Peaks Capital Management LLC owned 0.57% of AMC Entertainment Holdings worth $11,047,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in AMC. Ameritas Investment Partners Inc. lifted its stake in shares of AMC Entertainment Holdings by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after acquiring an additional 372 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of AMC Entertainment Holdings in the 2nd quarter valued at $125,000. Pacer Advisors Inc. lifted its stake in shares of AMC Entertainment Holdings by 12.0% in the 2nd quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after acquiring an additional 601 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in shares of AMC Entertainment Holdings in the 3rd quarter valued at $147,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of 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 acquiring an additional 6,055 shares during the last quarter. Institutional investors own 48.65% of the company’s stock.
A number of brokerages have recently commented on AMC. Loop Capital reiterated a “buy” rating and issued a $33.00 price target (down from $39.00) on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Benchmark Co. downgraded AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. B. Riley restated a “buy” rating and issued a $30.00 price objective (down from $30.50) on shares of AMC Entertainment Holdings in a report on Tuesday, November 7th. Finally, Piper Jaffray Companies set a $25.00 price objective on AMC Entertainment Holdings and gave the company an “overweight” rating in a report on Sunday, August 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. AMC Entertainment Holdings has an average rating of “Hold” and an average price target of $25.78.
In other AMC Entertainment Holdings news, CEO Adam M. Aron purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $15.79 per share, with a total value of $552,650.00. Following the transaction, the chief executive officer now owns 125,426 shares in the company, valued at $1,980,476.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Shares of AMC Entertainment Holdings, Inc. (NYSE AMC) opened at $13.20 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 2.01. AMC Entertainment Holdings, Inc. has a 1-year low of $10.80 and a 1-year high of $35.50.
AMC Entertainment Holdings (NYSE:AMC) last issued its earnings results on Monday, November 6th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. AMC Entertainment Holdings had a negative net margin of 3.87% and a negative return on equity of 6.20%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.28 earnings per share for the current fiscal year.
AMC Entertainment Holdings declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 58% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 6.06%. AMC Entertainment Holdings’s dividend payout ratio is presently -62.50%.
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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