State Street Corp Has $23.50 Million Position in AMC Entertainment Holdings, Inc. (AMC)
State Street Corp raised its holdings in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,033,328 shares of the company’s stock after buying an additional 68,098 shares during the quarter. State Street Corp owned 0.79% of AMC Entertainment Holdings worth $23,504,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Seven Eight Capital LP acquired a new position in AMC Entertainment Holdings in the second quarter valued at approximately $125,000. Pacer Advisors Inc. raised its position in shares of AMC Entertainment Holdings by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after purchasing an additional 601 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of AMC Entertainment Holdings by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares during the period. Nisa Investment Advisors LLC raised its position in shares of AMC Entertainment Holdings by 1,837.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after purchasing an additional 6,800 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of AMC Entertainment Holdings during the second quarter worth approximately $222,000. 46.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total transaction of $73,080,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam M. Aron purchased 35,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $15.79 per share, with a total value of $552,650.00. Following the purchase, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
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A number of brokerages have recently weighed in on AMC. Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of AMC Entertainment Holdings in a research report on Wednesday, August 2nd. Wedbush lowered their target price on AMC Entertainment Holdings from $36.00 to $22.75 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. 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. B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down from $42.50) on shares of AMC Entertainment Holdings in a research report on Monday, July 31st. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 target price (down from $35.00) on shares of AMC Entertainment Holdings in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. AMC Entertainment Holdings currently has an average rating of “Hold” and a consensus price target of $25.78.
AMC Entertainment Holdings, Inc. (NYSE AMC) opened at $12.20 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 2.01. AMC Entertainment Holdings, Inc. has a 12 month low of $10.80 and a 12 month high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. AMC Entertainment Holdings had a negative net margin of 3.87% and a negative return on equity of 6.20%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. equities analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 6.56%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -62.50%.
AMC Entertainment Holdings declared that its board has authorized a stock repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 58% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
AMC Entertainment Holdings Company Profile
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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