AMC Entertainment Holdings, Inc. (AMC) Holdings Raised by Northern Trust Corp
Northern Trust Corp raised its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 72.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,494,237 shares of the company’s stock after acquiring an additional 629,486 shares during the quarter. Northern Trust Corp owned approximately 1.14% of AMC Entertainment Holdings worth $33,994,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AMC. Wells Fargo & Company MN raised its holdings in AMC Entertainment Holdings by 70.4% during the first quarter. Wells Fargo & Company MN now owns 48,634 shares of the company’s stock valued at $1,529,000 after acquiring an additional 20,090 shares during the period. Great West Life Assurance Co. Can raised its holdings in AMC Entertainment Holdings by 241.8% during the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock valued at $174,000 after acquiring an additional 3,932 shares during the period. Bank of New York Mellon Corp raised its holdings in AMC Entertainment Holdings by 35.7% during the first quarter. Bank of New York Mellon Corp now owns 440,593 shares of the company’s stock valued at $13,856,000 after acquiring an additional 115,861 shares during the period. Swiss National Bank raised its holdings in AMC Entertainment Holdings by 100.8% during the first quarter. Swiss National Bank now owns 85,641 shares of the company’s stock valued at $2,693,000 after acquiring an additional 43,000 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in AMC Entertainment Holdings by 29.5% during the first quarter. Parametric Portfolio Associates LLC now owns 98,304 shares of the company’s stock valued at $3,092,000 after acquiring an additional 22,400 shares during the period. 47.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) opened at 13.75 on Monday. The firm’s 50-day moving average price is $14.75 and its 200 day moving average price is $21.39. The company’s market capitalization is $1.80 billion. AMC Entertainment Holdings, Inc. has a 52 week low of $12.05 and a 52 week high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate 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 net margin of 2.49% and a negative return on equity of 3.44%. The firm’s revenue was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. Equities analysts predict that AMC Entertainment Holdings, Inc. will post ($1.01) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.82%. AMC Entertainment Holdings’s payout ratio is -125.00%.
AMC Entertainment Holdings announced that its Board of Directors has initiated 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 reacquire up to 58% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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 that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 acquisition, the chief executive officer now directly owns 125,426 shares in the company, valued at $1,980,476.54. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 62,000 shares of company stock valued at $896,940. 0.80% of the stock is owned by insiders.
AMC has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down from $42.50) on shares of AMC Entertainment Holdings in a report on Monday, July 31st. William Blair initiated coverage on AMC Entertainment Holdings in a report on Friday, July 21st. They issued a “market perform” rating on the stock. Zacks Investment Research raised AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Credit Suisse Group reduced their target price on AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Finally, ValuEngine cut AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. AMC Entertainment Holdings presently has a consensus rating of “Hold” and a consensus target price of $27.39.
About AMC Entertainment Holdings
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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