Independent Advisor Alliance Acquires New Holdings in AMC Entertainment Holdings Inc (AMC)
Independent Advisor Alliance acquired a new stake in shares of AMC Entertainment Holdings Inc (NYSE:AMC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,780 shares of the company’s stock, valued at approximately $291,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Federated Investors Inc. PA grew its holdings in AMC Entertainment by 272.8% during the second quarter. Federated Investors Inc. PA now owns 463,400 shares of the company’s stock valued at $10,542,000 after purchasing an additional 339,100 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in AMC Entertainment by 15.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 908,121 shares of the company’s stock valued at $20,660,000 after purchasing an additional 123,028 shares during the period. Brookstone Capital Management bought a new position in AMC Entertainment during the second quarter valued at $269,000. Aperio Group LLC bought a new position in shares of AMC Entertainment in the third quarter worth $440,000. Finally, B. Riley Financial Inc. boosted its holdings in shares of AMC Entertainment by 56.3% in the second quarter. B. Riley Financial Inc. now owns 25,985 shares of the company’s stock worth $591,000 after acquiring an additional 9,364 shares during the period. 48.60% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.80% of the company’s stock.
AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.31 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. analysts anticipate that AMC Entertainment Holdings Inc will post -1.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.28%. AMC Entertainment’s dividend payout ratio (DPR) is presently -62.50%.
A number of research firms have recently commented on AMC. B. Riley set a $30.00 price target on AMC Entertainment and gave the stock a “buy” rating in a report on Tuesday, November 14th. Credit Suisse Group cut their price target on AMC Entertainment from $12.00 to $10.00 and set an “underperform” rating for the company in a report on Tuesday, November 7th. Wedbush reaffirmed a “buy” rating and issued a $15.50 price target on shares of AMC Entertainment in a report on Tuesday, November 7th. Zacks Investment Research lowered AMC Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $28.00 price target on shares of AMC Entertainment in a report on Monday, September 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. AMC Entertainment currently has a consensus rating of “Hold” and an average target price of $25.27.
AMC Entertainment 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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