Bank of New York Mellon Corp cut its stake in shares of AMC Entertainment Holdings Inc (NYSE:AMC) by 1.9% during the second quarter, HoldingsChannel reports. The firm owned 712,053 shares of the company’s stock after selling 13,792 shares during the period. Bank of New York Mellon Corp’s holdings in AMC Entertainment were worth $11,321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Investment Management of Virginia LLC grew its holdings in AMC Entertainment by 42.2% during the 2nd quarter. Investment Management of Virginia LLC now owns 72,012 shares of the company’s stock worth $1,145,000 after acquiring an additional 21,367 shares during the last quarter. Engineers Gate Manager LP grew its holdings in AMC Entertainment by 1,806.7% during the 2nd quarter. Engineers Gate Manager LP now owns 198,296 shares of the company’s stock worth $3,153,000 after acquiring an additional 187,896 shares during the last quarter. Boston Partners bought a new stake in AMC Entertainment during the 2nd quarter worth about $1,862,000. Pitcairn Co. grew its holdings in AMC Entertainment by 38.1% during the 2nd quarter. Pitcairn Co. now owns 24,766 shares of the company’s stock worth $394,000 after acquiring an additional 6,839 shares during the last quarter. Finally, First Dallas Securities Inc. bought a new stake in AMC Entertainment during the 2nd quarter worth about $171,000. 40.01% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Wanda America Investment Holdi sold 75,826,927 shares of AMC Entertainment stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $1.82, for a total transaction of $138,005,007.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John D. Mcdonald sold 17,500 shares of AMC Entertainment stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $15.42, for a total transaction of $269,850.00. Following the transaction, the executive vice president now directly owns 56,961 shares in the company, valued at approximately $878,338.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

A number of equities research analysts have commented on AMC shares. ValuEngine lowered shares of AMC Entertainment from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Benchmark raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Thursday, June 21st. Wedbush raised shares of AMC Entertainment to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, June 21st. Cfra reaffirmed a “buy” rating and issued a $18.00 target price on shares of AMC Entertainment in a research note on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. AMC Entertainment has a consensus rating of “Hold” and a consensus target price of $20.28.

Shares of NYSE AMC opened at $20.40 on Tuesday. The stock has a market capitalization of $2.72 billion, a PE ratio of -22.87, a price-to-earnings-growth ratio of 16.17 and a beta of 0.83. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. AMC Entertainment Holdings Inc has a 1 year low of $10.80 and a 1 year high of $21.45.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, August 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. AMC Entertainment had a negative net margin of 5.15% and a positive return on equity of 1.70%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.35) EPS. analysts expect that AMC Entertainment Holdings Inc will post 0.13 EPS for the current year.

The firm also recently announced a special dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 25th will be paid a $1.55 dividend. This represents a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, September 24th. AMC Entertainment’s dividend payout ratio (DPR) is presently -89.89%.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, operates in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2017, it owned, operated, or had interests in 649 theatres with a total of 8,224 screens in the United States; and 365 theatres and 2,945 screens internationally.

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Institutional Ownership by Quarter for AMC Entertainment (NYSE:AMC)

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