Hodges Capital Management Inc. Purchases New Stake in AMC Entertainment Holdings, Inc. (AMC)
Hodges Capital Management Inc. purchased a new position in AMC Entertainment Holdings, Inc. (NYSE:AMC) during the second quarter, Holdings Channel reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $455,000.
Other large investors have also added to or reduced their stakes in the company. Croft Leominster Inc. raised its stake in AMC Entertainment Holdings by 36.1% in the first quarter. Croft Leominster Inc. now owns 11,300 shares of the company’s stock worth $355,000 after buying an additional 3,000 shares during the period. Great West Life Assurance Co. Can raised its stake in AMC Entertainment Holdings by 241.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after buying an additional 3,932 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in AMC Entertainment Holdings during the first quarter worth approximately $141,000. Pacer Advisors Inc. acquired a new stake in AMC Entertainment Holdings during the first quarter worth approximately $157,000. Finally, SG Americas Securities LLC raised its stake in AMC Entertainment Holdings by 62.0% in the first quarter. SG Americas Securities LLC now owns 13,688 shares of the company’s stock worth $430,000 after buying an additional 5,237 shares during the period. Institutional investors and hedge funds own 42.02% of the company’s stock.
AMC Entertainment Holdings, Inc. (AMC) opened at 15.50 on Thursday. AMC Entertainment Holdings, Inc. has a 1-year low of $14.80 and a 1-year high of $35.65. The stock has a 50 day moving average price of $20.72 and a 200-day moving average price of $27.10. The firm has a market cap of $2.03 billion, a P/E ratio of 17.69 and a beta of 1.31.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $0.06 by $1.41. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. Equities research analysts forecast that AMC Entertainment Holdings, Inc. will post ($1.04) EPS for the current year.
AMC Entertainment Holdings announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 58% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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 paid a $0.20 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 5.16%. AMC Entertainment Holdings’s dividend payout ratio is -125.00%.
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A number of research firms recently commented on AMC. B. Riley upgraded AMC Entertainment Holdings to a “buy” rating and set a $49.50 price target on the stock in a research report on Sunday, May 14th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of AMC Entertainment Holdings in a research report on Monday, April 24th. FBR & Co restated a “buy” rating and set a $37.00 price target on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. William Blair began coverage on AMC Entertainment Holdings in a research report on Friday, July 21st. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. AMC Entertainment Holdings presently has a consensus rating of “Hold” and an average price target of $29.96.
In other AMC Entertainment Holdings news, SVP Kevin M. Connor acquired 4,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the purchase, the senior vice president now directly owns 40,705 shares in the company, valued at approximately $957,381.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam M. Aron acquired 10,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the purchase, the chief executive officer now owns 90,426 shares of the company’s stock, valued at $2,235,330.72. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
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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