AMC Entertainment Holdings, Inc. (AMC) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) from a hold rating to a sell rating in a research report released on Friday morning.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
A number of other equities analysts have also commented on the company. MKM Partners reissued a buy rating and issued a $28.00 price objective on shares of AMC Entertainment Holdings in a research note on Monday, September 18th. Citigroup Inc. reissued a buy rating and issued a $21.00 price objective (down previously from $30.00) on shares of AMC Entertainment Holdings in a research note on Monday, September 11th. Barclays PLC set a $16.00 price objective on AMC Entertainment Holdings and gave the stock a hold rating in a research note on Tuesday, August 29th. B. Riley reissued a buy rating and issued a $32.50 price objective on shares of AMC Entertainment Holdings in a research note on Thursday, August 10th. Finally, Barrington Research reissued an outperform rating and issued a $23.00 price objective on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a sell rating, four 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 an average price target of $28.23.
Shares of AMC Entertainment Holdings (NYSE:AMC) opened at 15.125 on Friday. The company’s 50 day moving average is $14.45 and its 200-day moving average is $23.38. The company’s market capitalization is $1.98 billion. AMC Entertainment Holdings has a 52 week low of $12.05 and a 52 week high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.41). The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. On average, analysts expect that AMC Entertainment Holdings will post ($1.02) EPS for the current fiscal year.
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AMC Entertainment Holdings declared that its board has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 58% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s payout ratio is -125.00%.
In related news, Director Jack Qunyao Gao bought 20,000 shares of the business’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $12.50 per share, with a total value of $250,000.00. Following the completion of the purchase, the director now owns 30,500 shares of the company’s stock, valued at approximately $381,250. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam M. Aron bought 35,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $15.79 per share, for a total transaction of $552,650.00. Following the purchase, the chief executive officer now directly owns 125,426 shares of the company’s stock, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. Insiders acquired 62,000 shares of company stock worth $896,940 in the last three months. Insiders own 0.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its stake in AMC Entertainment Holdings by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after buying an additional 372 shares during the period. Seven Eight Capital LP acquired a new position in AMC Entertainment Holdings in the second quarter valued at about $125,000. Pacer Advisors Inc. lifted its stake in AMC Entertainment Holdings by 12.0% in the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after buying an additional 601 shares during the period. BNP Paribas Arbitrage SA lifted 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 valued at $162,000 after buying an additional 6,055 shares during the period. Finally, Nisa Investment Advisors LLC lifted 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 valued at $163,000 after buying an additional 6,800 shares during the period. 46.99% of the stock is currently owned by hedge funds and other institutional investors.
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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