AMC Entertainment Holdings, Inc. (NYSE:AMC) Earns Outperform Rating from Barrington Research
AMC Entertainment Holdings, Inc. (NYSE:AMC)‘s stock had its “outperform” rating reaffirmed by stock analysts at Barrington Research in a report released on Tuesday. They currently have a $23.00 target price on the stock. Barrington Research’s price objective suggests a potential upside of 42.41% from the company’s current price.
AMC has been the topic of a number of other reports. Loop Capital restated a “buy” rating and issued a $33.00 price objective (down from $39.00) on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Benchmark Co. lowered shares of AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Monday, June 26th. Piper Jaffray Companies set a $25.00 price objective on shares of AMC Entertainment Holdings and gave the company an “overweight” rating in a research note on Sunday. Finally, Credit Suisse Group dropped their price objective on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a research note on Friday, June 23rd. 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 company. The company presently has a consensus rating of “Hold” and an average price target of $29.96.
AMC Entertainment Holdings (AMC) traded up 0.31% during midday trading on Tuesday, reaching $16.15. 2,354,809 shares of the company’s stock traded hands. AMC Entertainment Holdings has a 1-year low of $14.80 and a 1-year high of $35.65. The company has a market capitalization of $2.11 billion, a PE ratio of 18.44 and a beta of 1.31. The firm’s 50 day moving average price is $21.44 and its 200-day moving average price is $27.53.
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 net margin of 2.49% and a negative return on equity of 3.61%. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Equities analysts expect that AMC Entertainment Holdings will post ($1.07) EPS for the current year.
AMC Entertainment Holdings announced that its board has approved a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 58% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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In related news, CEO Adam M. Aron acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $24.72 per share, with a total value of $247,200.00. Following the completion of the acquisition, the chief executive officer now owns 90,426 shares in the company, valued at $2,235,330.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin M. Connor acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average cost of $23.52 per share, for a total transaction of $94,080.00. Following the acquisition, the senior vice president now owns 40,705 shares of the company’s stock, valued at approximately $957,381.60. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in AMC Entertainment Holdings during the fourth quarter worth approximately $275,000. AQR Capital Management LLC increased its stake in AMC Entertainment Holdings by 206.5% in the fourth quarter. AQR Capital Management LLC now owns 28,877 shares of the company’s stock worth $972,000 after buying an additional 19,456 shares in the last quarter. Teachers Advisors LLC increased its stake in AMC Entertainment Holdings by 42.5% in the fourth quarter. Teachers Advisors LLC now owns 49,693 shares of the company’s stock worth $1,672,000 after buying an additional 14,811 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in AMC Entertainment Holdings during the first quarter worth approximately $267,000. Finally, Boston Advisors LLC increased its stake in AMC Entertainment Holdings by 29.2% in the first quarter. Boston Advisors LLC now owns 162,900 shares of the company’s stock worth $5,123,000 after buying an additional 36,780 shares in the last quarter. 42.02% of the stock is currently owned by hedge funds and other institutional investors.
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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