Mutual of America Capital Management LLC increased its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 28.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,750 shares of the company’s stock after buying an additional 38,500 shares during the period. Mutual of America Capital Management LLC owned about 0.13% of AMC Entertainment Holdings worth $2,554,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AMC. BlackRock Inc. increased its stake in shares of AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after buying an additional 3,344,988 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of AMC Entertainment Holdings by 409.9% in the second quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after buying an additional 3,108,645 shares during the last quarter. Janus Henderson Group PLC bought a new stake in shares of AMC Entertainment Holdings in the second quarter worth $63,789,000. Canyon Capital Advisors LLC bought a new stake in shares of AMC Entertainment Holdings in the second quarter worth $44,363,000. Finally, Vanguard Group Inc. increased its stake in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after buying an additional 1,811,552 shares during the last quarter. Institutional investors and hedge funds own 46.82% of the company’s stock.
AMC has been the subject of a number of research analyst reports. Barclays PLC set a $16.00 price target on shares of AMC Entertainment Holdings and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of AMC Entertainment Holdings from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, October 17th. Citigroup Inc. restated a “buy” rating and issued a $21.00 price target (down previously from $30.00) on shares of AMC Entertainment Holdings in a research note on Monday, September 11th. Loop Capital restated a “buy” rating and issued a $39.00 price target on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Finally, William Blair started coverage on shares of AMC Entertainment Holdings in a research note on Friday, July 21st. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $26.46.
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In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack Qunyao Gao bought 7,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average price of $13.47 per share, with a total value of $94,290.00. Following the completion of the purchase, the director now owns 10,500 shares of the company’s stock, valued at approximately $141,435. The disclosure for this purchase can be found here. Insiders have acquired 62,000 shares of company stock valued at $896,940 over the last quarter. Corporate insiders own 0.80% of the company’s stock.
AMC Entertainment Holdings, Inc. (AMC) opened at 13.90 on Tuesday. AMC Entertainment Holdings, Inc. has a one year low of $12.05 and a one year high of $35.65. The stock’s 50 day moving average is $14.82 and its 200 day moving average is $20.05. The firm’s market cap is $1.82 billion.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts expect that AMC Entertainment Holdings, Inc. will post ($1.12) earnings per share for the current year.
AMC Entertainment Holdings announced that its Board of Directors has authorized a share buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 58% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
AMC Entertainment Holdings 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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