AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price rose 5.6% during mid-day trading on Monday . The stock traded as high as $14.40 and last traded at $14.10. Approximately 2,329,983 shares changed hands during trading, a decline of 18% from the average daily volume of 2,835,590 shares. The stock had previously closed at $13.35.
AMC has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on shares of AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Wedbush set a $23.00 price target on shares of AMC Entertainment Holdings and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC downgraded shares of AMC Entertainment Holdings from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $31.00 to $25.00 in a report on Wednesday, July 19th. Citigroup Inc. cut their price target on shares of AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating for the company in a report on Friday, June 9th. Finally, ValuEngine downgraded shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. AMC Entertainment Holdings presently has an average rating of “Hold” and a consensus price target of $28.76.
The firm has a 50 day moving average price of $15.32 and a 200-day moving average price of $24.10. The firm’s market capitalization is $1.84 billion.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly 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. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, analysts predict that AMC Entertainment Holdings, Inc. will post ($1.03) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors 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 5.67%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
AMC Entertainment Holdings declared that its Board of Directors has initiated a share repurchase 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 generally an indication that the company’s board of directors believes its shares are undervalued.
In other AMC Entertainment Holdings news, Director Jack Qunyao Gao acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $250,000.00. Following the acquisition, the director now directly owns 30,500 shares in the company, valued at $381,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMC. Ameritas Investment Partners Inc. raised its holdings in 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 buying an additional 372 shares during the last quarter. Seven Eight Capital LP bought a new position in AMC Entertainment Holdings in the 2nd quarter valued at approximately $125,000. Pacer Advisors Inc. raised its holdings in 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 buying an additional 601 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in 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 buying an additional 6,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in AMC Entertainment Holdings by 1,837.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock valued at $163,000 after buying an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 46.96% 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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