William Blair assumed coverage on shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) in a research report report published on Friday, July 21st, MarketBeat Ratings reports. The brokerage issued a market perform rating on the stock.
A number of other equities analysts also recently issued reports on the company. Barclays PLC downgraded AMC Entertainment Holdings from an overweight rating to an equal weight rating and reduced their price target for the stock from $31.00 to $25.00 in a research report on Wednesday, July 19th. Credit Suisse Group reduced their price target on AMC Entertainment Holdings from $20.00 to $17.00 and set an underperform rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research downgraded AMC Entertainment Holdings from a hold rating to a sell rating in a research report on Tuesday, July 11th. Loop Capital reissued a buy rating and issued a $39.00 target price on shares of AMC Entertainment Holdings in a research report on Monday, July 10th. Finally, BidaskClub downgraded AMC Entertainment Holdings from a sell rating to a strong sell rating in a research report on Friday, June 23rd. 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 stock. The company currently has a consensus rating of Hold and a consensus target price of $29.96.
Shares of AMC Entertainment Holdings (AMC) traded down 1.14% on Friday, hitting $13.00. The stock had a trading volume of 7,120,373 shares. The company has a 50-day moving average of $18.74 and a 200-day moving average of $26.12. AMC Entertainment Holdings has a 52-week low of $12.05 and a 52-week high of $35.65. The company’s market cap is $1.70 billion.
AMC Entertainment Holdings (NYSE:AMC) last posted its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities analysts anticipate that AMC Entertainment Holdings will post ($1.01) EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 6.15%. AMC Entertainment Holdings’s payout ratio is -125.00%.
AMC Entertainment Holdings announced that its board has approved a share buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 58% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other news, CEO Adam M. Aron purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was acquired at an average price of $24.72 per share, for a total transaction of $247,200.00. Following the acquisition, the chief executive officer now directly owns 90,426 shares of the company’s stock, valued at $2,235,330.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack Qunyao Gao purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average price of $12.50 per share, with a total value of $250,000.00. Following the acquisition, the director now directly owns 30,500 shares in the company, valued at $381,250. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 41,000 shares of company stock valued at $685,570. 0.80% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in AMC. Cetera Investment Advisers bought a new stake in AMC Entertainment Holdings during the second quarter valued at $619,000. Koch Industries Inc. bought a new stake in AMC Entertainment Holdings during the second quarter valued at $276,000. Ameritas Investment Partners Inc. increased its stake in AMC Entertainment Holdings by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after buying an additional 372 shares during the period. Bank of Nova Scotia bought a new stake in AMC Entertainment Holdings during the second quarter valued at $1,138,000. Finally, The Manufacturers Life Insurance Company increased its stake in AMC Entertainment Holdings by 67.5% in the second quarter. The Manufacturers Life Insurance Company now owns 43,860 shares of the company’s stock valued at $998,000 after buying an additional 17,674 shares during the period. Institutional investors and hedge funds own 43.07% of the company’s stock.
AMC Entertainment Holdings Company 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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