Falcon Point Capital LLC Boosts Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)
Falcon Point Capital LLC raised its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 88.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 618,925 shares of the company’s stock after buying an additional 289,698 shares during the period. AMC Entertainment Holdings accounts for about 1.9% of Falcon Point Capital LLC’s portfolio, making the stock its 21st largest position. Falcon Point Capital LLC’s holdings in AMC Entertainment Holdings were worth $14,081,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AMC. BlackRock Inc. increased its position 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 valued at $105,428,000 after buying an additional 3,344,988 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $73,011,000. Vanguard Group Inc. increased its position 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 valued at $152,228,000 after buying an additional 1,811,552 shares during the last quarter. Asturias Capital LLC acquired a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $20,796,000. Finally, UBS Oconnor LLC acquired a new position in shares of AMC Entertainment Holdings during the first quarter valued at about $20,708,000. 42.02% of the stock is currently owned by institutional investors.
Shares of AMC Entertainment Holdings, Inc. (NYSE AMC) opened at 14.05 on Friday. The company has a 50 day moving average of $20.21 and a 200 day moving average of $26.86. AMC Entertainment Holdings, Inc. has a 52 week low of $13.65 and a 52 week high of $35.65. The firm’s market cap is $1.84 billion.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $1.41. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post ($1.04) EPS for the current fiscal 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 repurchase up to 58% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be given a $0.20 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.69%. AMC Entertainment Holdings’s dividend payout ratio is presently -125.00%.
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AMC has been the topic of several research reports. Zacks Investment Research downgraded shares of AMC Entertainment Holdings from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 1st. Loop Capital reissued a “buy” rating and set a $39.00 price objective on shares of AMC Entertainment Holdings in a research report on Monday, July 10th. Barclays PLC raised their price objective on shares of AMC Entertainment Holdings from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. FBR & Co reissued a “buy” rating and set a $37.00 price objective on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Finally, TheStreet downgraded shares of AMC Entertainment Holdings from a “b-” rating to a “c+” rating in a research report on Friday, May 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.96.
In related news, SVP Kevin M. Connor bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $23.52 per share, for a total transaction of $94,080.00. Following the transaction, the senior vice president now directly owns 40,705 shares of the company’s stock, valued at approximately $957,381.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam M. Aron bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average price of $24.72 per share, with a total value of $247,200.00. Following the transaction, the chief executive officer now directly owns 90,426 shares in the company, valued at $2,235,330.72. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
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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