Davidson Kempner Capital Management LP Takes Position in AMC Entertainment Holdings, Inc. (AMC)
Davidson Kempner Capital Management LP purchased a new stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,400,000 shares of the company’s stock, valued at approximately $31,850,000. AMC Entertainment Holdings makes up about 0.7% of Davidson Kempner Capital Management LP’s holdings, making the stock its 26th largest position. Davidson Kempner Capital Management LP owned about 1.07% of AMC Entertainment Holdings as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Federated Investors Inc. PA raised its stake in AMC Entertainment Holdings by 272.8% in the second quarter. Federated Investors Inc. PA now owns 463,400 shares of the company’s stock valued at $10,542,000 after buying an additional 339,100 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in AMC Entertainment Holdings by 15.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 908,121 shares of the company’s stock valued at $20,660,000 after buying an additional 123,028 shares in the last quarter. Brookstone Capital Management acquired a new stake in AMC Entertainment Holdings in the second quarter valued at $269,000. B. Riley Financial Inc. raised its stake in AMC Entertainment Holdings by 56.3% in the second quarter. B. Riley Financial Inc. now owns 25,985 shares of the company’s stock valued at $591,000 after buying an additional 9,364 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in AMC Entertainment Holdings by 74.7% in the first quarter. Alliancebernstein L.P. now owns 75,348 shares of the company’s stock valued at $2,370,000 after buying an additional 32,223 shares in the last quarter. Institutional investors own 47.02% of the company’s stock.
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A number of analysts have weighed in on the company. Loop Capital restated a “buy” rating and issued a $33.00 price target (down from $39.00) on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Benchmark Co. cut AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Piper Jaffray Companies set a $25.00 price target on AMC Entertainment Holdings and gave the company an “overweight” rating in a research note on Sunday, August 6th. Finally, Citigroup Inc. restated a “buy” rating and issued a $21.00 price target (down from $30.00) on shares of AMC Entertainment Holdings in a research note on Monday, September 11th. Three investment 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. AMC Entertainment Holdings has an average rating of “Hold” and an average price target of $26.46.
AMC Entertainment Holdings, Inc. (NYSE:AMC) traded down 1.75% during mid-day trading on Friday, hitting $14.00. The stock had a trading volume of 2,068,933 shares. The stock’s market cap is $1.83 billion. The company has a 50 day moving average price of $14.80 and a 200 day moving average price of $20.91. AMC Entertainment Holdings, Inc. has a one year low of $12.05 and a one year high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.41). The business had revenue of $1.20 billion for 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 was up 57.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities analysts anticipate that AMC Entertainment Holdings, Inc. will post ($1.08) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Monday, September 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 annualized dividend and a yield of 5.71%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is -125.00%.
AMC Entertainment Holdings announced that its board has authorized a stock repurchase program on Thursday, August 3rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 58% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In other AMC Entertainment Holdings news, CEO Adam M. Aron acquired 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the completion of the purchase, the chief executive officer now directly owns 125,426 shares in the company, valued at $1,980,476.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $6.09, for a total transaction of $73,080,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 62,000 shares of company stock worth $896,940. 0.80% of the stock is owned by company insiders.
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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