AMC Entertainment (AMC) Shares Gap Up to $14.30
AMC Entertainment Holdings Inc (NYSE:AMC) shares gapped up before the market opened on Tuesday . The stock had previously closed at $13.95, but opened at $14.30. AMC Entertainment shares last traded at $14.45, with a volume of 3150994 shares trading hands.
A number of brokerages have issued reports on AMC. B. Riley reiterated a “buy” rating and set a $32.50 price objective on shares of AMC Entertainment in a research note on Thursday, August 10th. Royal Bank Of Canada lowered their price objective on AMC Entertainment from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of AMC Entertainment in a research note on Tuesday, August 8th. Loop Capital restated a “buy” rating and issued a $33.00 price target (down previously from $39.00) on shares of AMC Entertainment in a research note on Tuesday, August 8th. Finally, Citigroup restated a “buy” rating and issued a $21.00 price target (down previously from $30.00) on shares of AMC Entertainment in a research note on Monday, September 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.78.
The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.01.
AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue was up 51.2% on a year-over-year basis. research analysts expect that AMC Entertainment Holdings Inc will post -1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Friday, December 1st. AMC Entertainment’s payout ratio is currently -62.50%.
In other news, CEO Adam M. Aron acquired 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was bought at an average price of $15.79 per share, with a total value of $552,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 125,426 shares of the company’s stock, valued at approximately $1,980,476.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. 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. grew its holdings in AMC Entertainment by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after purchasing an additional 372 shares during the period. Seven Eight Capital LP bought a new stake in AMC Entertainment during the second quarter valued at about $125,000. Pacer Advisors Inc. grew its holdings in AMC Entertainment by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after purchasing an additional 601 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in AMC Entertainment during the third quarter valued at about $147,000. Finally, BNP Paribas Arbitrage SA grew its holdings in AMC Entertainment by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after purchasing an additional 6,055 shares during the period. 48.60% of the stock is owned by institutional investors and hedge funds.
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About AMC Entertainment
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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