Loop Capital Reaffirms “Buy” Rating for AMC Entertainment Holdings, Inc. (AMC)
AMC Entertainment Holdings, Inc. (NYSE:AMC)‘s stock had its “buy” rating restated by stock analysts at Loop Capital in a research note issued to investors on Tuesday. They currently have a $33.00 price target on the stock, down from their prior price target of $39.00. Loop Capital’s price objective would suggest a potential upside of 104.33% from the company’s current price.
A number of other analysts have also issued reports on AMC. B. Riley upgraded AMC Entertainment Holdings to a “buy” rating and set a $49.50 price target for the company in a report on Tuesday, May 9th. ValuEngine lowered AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Piper Jaffray Companies set a $25.00 target price on AMC Entertainment Holdings and gave the stock an “overweight” rating in a report on Sunday. Royal Bank Of Canada lowered their target price on AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Zacks Investment Research upgraded AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.96.
AMC Entertainment Holdings (NYSE:AMC) traded up 0.31% on Tuesday, hitting $16.15. The stock had a trading volume of 2,354,809 shares. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 18.44 and a beta of 1.31. The stock’s 50-day moving average is $21.44 and its 200 day moving average is $27.53. AMC Entertainment Holdings has a 1-year low of $14.80 and a 1-year high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. On average, equities research analysts predict that AMC Entertainment Holdings will post ($1.07) earnings per share for the current fiscal year.
AMC Entertainment Holdings declared that its Board of Directors has initiated a share 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 repurchase up to 58% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other AMC Entertainment Holdings news, SVP Kevin M. Connor purchased 4,000 shares of AMC Entertainment Holdings stock in a transaction dated Thursday, June 8th. The shares were acquired at an average cost of $23.52 per share, with a total value of $94,080.00. Following the completion of the transaction, the senior vice president now owns 40,705 shares in the company, valued at approximately $957,381.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam M. Aron purchased 10,000 shares of AMC Entertainment Holdings stock in a transaction dated Friday, June 2nd. The shares were acquired at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the transaction, the chief executive officer now owns 90,426 shares of the company’s stock, valued at approximately $2,235,330.72. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AMC. Russell Investments Group Ltd. purchased a new position in AMC Entertainment Holdings during the fourth quarter valued at about $275,000. AQR Capital Management LLC increased its position 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 valued at $972,000 after buying an additional 19,456 shares during the last quarter. Teachers Advisors LLC increased its position in AMC Entertainment Holdings by 42.5% in the fourth quarter. Teachers Advisors LLC now owns 49,693 shares of the company’s stock valued at $1,672,000 after buying an additional 14,811 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in AMC Entertainment Holdings during the first quarter valued at about $267,000. Finally, Boston Advisors LLC increased its position in AMC Entertainment Holdings by 29.2% in the first quarter. Boston Advisors LLC now owns 162,900 shares of the company’s stock valued at $5,123,000 after buying an additional 36,780 shares during 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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