AMC Entertainment Holdings, Inc. (AMC) Shares Gap Up After Dividend Announcement
AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $16.85, but opened at $16.25. AMC Entertainment Holdings shares last traded at $16.15, with a volume of 1,311,723 shares traded.
The newly announced dividend which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 4.97%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
AMC has been the topic of a number of recent research reports. BidaskClub lowered AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered AMC Entertainment Holdings from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. FBR & Co lowered their price objective on AMC Entertainment Holdings from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 9th. MKM Partners restated a “buy” rating and set a $36.00 price objective (down previously from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Finally, Citigroup Inc. restated a “buy” rating and set a $30.00 price objective (down previously from $35.00) on shares of AMC Entertainment Holdings in a research note on Saturday, July 22nd. Three 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. The stock has an average rating of “Hold” and an average target price of $31.03.
The stock has a market cap of $2.11 billion, a P/E ratio of 18.38 and a beta of 1.31. The firm’s 50 day moving average is $22.18 and its 200-day moving average is $27.80.
AMC Entertainment Holdings (NYSE:AMC) last posted its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by $1.41. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, analysts forecast that AMC Entertainment Holdings, Inc. will post ($1.03) earnings per share for the current year.
AMC Entertainment Holdings announced that its board has authorized a share buyback program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, CEO Adam M. Aron bought 10,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the acquisition, the chief executive officer now owns 90,426 shares in the company, valued at approximately $2,235,330.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin M. Connor bought 4,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were purchased at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the acquisition, the senior vice president now owns 40,705 shares of the company’s stock, valued at approximately $957,381.60. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of AMC. Ameritas Investment Partners Inc. purchased a new stake in AMC Entertainment Holdings during the first quarter worth $141,000. Pacer Advisors Inc. purchased a new stake in AMC Entertainment Holdings during the first quarter worth $157,000. BNP Paribas Arbitrage SA raised its stake in AMC Entertainment Holdings by 574.5% in the second 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in AMC Entertainment Holdings by 1,837.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after buying an additional 6,800 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors own 42.02% of the company’s stock.
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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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