Virtus Advisers LLC Makes New $830,000 Investment in AMC Entertainment Holdings, Inc. $AMC

Virtus Advisers LLC purchased a new stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 276,699 shares of the company’s stock, valued at approximately $830,000.

A number of other hedge funds also recently modified their holdings of AMC. Russell Investments Group Ltd. lifted its stake in AMC Entertainment by 4.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 340,273 shares of the company’s stock worth $1,021,000 after acquiring an additional 14,170 shares in the last quarter. Triton Wealth Management PLLC boosted its position in AMC Entertainment by 14.6% during the third quarter. Triton Wealth Management PLLC now owns 76,408 shares of the company’s stock valued at $248,000 after purchasing an additional 9,757 shares during the last quarter. Fulcrum Asset Management LLP grew its stake in shares of AMC Entertainment by 736.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,033,874 shares of the company’s stock valued at $3,184,000 after buying an additional 910,214 shares in the last quarter. Candriam S.C.A. bought a new stake in AMC Entertainment in the third quarter worth approximately $134,000. Finally, StoneX Group Inc. bought a new stake in AMC Entertainment in the third quarter worth $44,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.

Analyst Upgrades and Downgrades

AMC has been the subject of several recent analyst reports. Roth Capital reiterated a “neutral” rating on shares of AMC Entertainment in a research note on Friday, October 23rd. Zacks Research lowered AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Citigroup raised their price target on shares of AMC Entertainment from $2.20 to $2.60 and gave the stock a “sell” rating in a research report on Friday, November 6th. Needham & Company LLC set a $3.50 price target on AMC Entertainment in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $2.73.

AMC Entertainment Stock Performance

Shares of NYSE AMC traded down $0.10 during mid-day trading on Friday, hitting $3.25. 16,103,288 shares of the stock were exchanged, compared to its average volume of 23,200,474. The stock’s fifty day simple moving average is $2.94 and its two-hundred day simple moving average is $2.06. AMC Entertainment Holdings, Inc. has a twelve month low of $0.93 and a twelve month high of $3.77. The company has a market cap of $2.90 billion, a P/E ratio of -8.77 and a beta of 2.03.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, equities research analysts predict that AMC Entertainment Holdings, Inc. will post -0.11 earnings per share for the current fiscal year.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc. operates movie theaters that show films and other content, including special-event programming. Its theaters offer services such as reserved seating, online ticketing, and food and beverage sales, with amenities and premium formats varying by location. The company serves audiences in the United States and Europe through brands including AMC, ODEON, and Nordic Cinema. Its history dates to 1920, when the Dubinsky brothers began operating theaters in the Kansas City area.