AMC Entertainment Holdings Inc (AMC) Short Interest Update
AMC Entertainment Holdings Inc (NYSE:AMC) was the target of a large increase in short interest in December. As of December 29th, there was short interest totalling 20,259,697 shares, an increase of 13.6% from the December 15th total of 17,828,696 shares. Approximately 42.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,624,537 shares, the short-interest ratio is currently 7.7 days.
A number of large investors have recently modified their holdings of AMC. Schwab Charles Investment Management Inc. raised its position in AMC Entertainment by 14.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 260,401 shares of the company’s stock worth $5,925,000 after buying an additional 33,000 shares during the last quarter. Rhumbline Advisers raised its position in AMC Entertainment by 27.7% during the 2nd quarter. Rhumbline Advisers now owns 68,180 shares of the company’s stock worth $1,551,000 after buying an additional 14,780 shares during the last quarter. Bank of New York Mellon Corp raised its position in AMC Entertainment by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 445,078 shares of the company’s stock worth $10,126,000 after buying an additional 4,485 shares during the last quarter. Legal & General Group Plc raised its position in AMC Entertainment by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 13,118 shares of the company’s stock worth $301,000 after buying an additional 337 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in AMC Entertainment by 574.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after buying an additional 6,055 shares during the last quarter. Hedge funds and other institutional investors own 48.60% of the company’s stock.
Shares of AMC Entertainment (NYSE:AMC) opened at $14.45 on Tuesday. The firm has a market cap of $1,860.00, a price-to-earnings ratio of -11.03 and a beta of 1.37. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.53 and a current ratio of 0.53. AMC Entertainment has a 52 week low of $10.80 and a 52 week high of $34.90.
AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. analysts forecast that AMC Entertainment will post -1.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Monday, December 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Friday, December 1st. AMC Entertainment’s dividend payout ratio is currently -61.07%.
Several research analysts have recently issued reports on AMC shares. Zacks Investment Research cut shares of AMC Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. MKM Partners restated a “buy” rating and issued a $28.00 target price on shares of AMC Entertainment in a report on Monday, September 18th. Wedbush set a $21.00 target price on shares of AMC Entertainment and gave the company a “buy” rating in a report on Wednesday, November 1st. B. Riley set a $30.00 target price on shares of AMC Entertainment and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, Credit Suisse Group lowered their target price on shares of AMC Entertainment from $14.00 to $12.00 and set an “underperform” rating for the company in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $24.15.
About AMC Entertainment
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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