AMC Entertainment Holdings, Inc. (AMC) Debt Trading 0.5% Lower

An issue of AMC Entertainment Holdings, Inc. (NYSE:AMC) bonds fell 0.5% against their face value during trading on Monday. The high-yield debt issue has a 5.75% coupon and will mature on June 15, 2025. The debt is now trading at $103.75 and was trading at $104.00 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

Several brokerages recently weighed in on AMC. B. Riley upgraded AMC Entertainment Holdings to a “buy” rating and set a $49.50 target price for the company in a research note on Tuesday, May 9th. ValuEngine downgraded AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Barrington Research restated an “outperform” rating and set a $23.00 target price on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Piper Jaffray Companies set a $25.00 target price on AMC Entertainment Holdings and gave the company an “overweight” rating in a research note on Sunday, August 6th. Finally, Loop Capital restated a “buy” rating and set a $33.00 target price (down previously from $39.00) on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.96.

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) traded down 2.77% during trading on Friday, hitting $14.05. The stock had a trading volume of 3,632,723 shares. The stock’s market capitalization is $1.84 billion. AMC Entertainment Holdings, Inc. has a 12-month low of $13.65 and a 12-month high of $35.65. The stock’s 50-day moving average is $20.21 and its 200-day moving average is $26.86.

AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Analysts predict that AMC Entertainment Holdings, Inc. will post ($1.04) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio (DPR) is currently -125.00%.

AMC Entertainment Holdings announced that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other news, CEO Adam M. Aron acquired 10,000 shares of the stock in a transaction on Friday, June 2nd. The stock was acquired at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the transaction, the chief executive officer now directly owns 90,426 shares in the company, valued at $2,235,330.72. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin M. Connor acquired 4,000 shares of the stock in a transaction on Thursday, June 8th. The shares were purchased at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the transaction, the senior vice president now owns 40,705 shares of the company’s stock, valued at $957,381.60. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of AMC Entertainment Holdings by 74.7% in the first quarter. Alliancebernstein L.P. now owns 75,348 shares of the company’s stock valued at $2,370,000 after buying an additional 32,223 shares during the period. Prudential Financial Inc. increased its position in shares of AMC Entertainment Holdings by 67.1% in the first quarter. Prudential Financial Inc. now owns 30,779 shares of the company’s stock valued at $968,000 after buying an additional 12,360 shares during the period. Janus Capital Management LLC increased its position in shares of AMC Entertainment Holdings by 0.3% in the first quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock valued at $76,043,000 after buying an additional 8,318 shares during the period. LMR Partners LLP bought a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $2,192,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $588,000. Institutional investors own 42.02% of the company’s stock.

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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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