Adam M. Aron Acquires 35,000 Shares of AMC Entertainment Holdings, Inc. (AMC) Stock
AMC Entertainment Holdings, Inc. (NYSE:AMC) CEO Adam M. Aron bought 35,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were bought at an average cost of $15.79 per share, for a total transaction of $552,650.00. Following the transaction, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of AMC Entertainment Holdings, Inc. (AMC) traded up 5.757% during trading on Thursday, reaching $16.075. The company had a trading volume of 7,062,281 shares. The firm has a 50-day moving average of $15.11 and a 200 day moving average of $23.90. The firm’s market capitalization is $2.10 billion. AMC Entertainment Holdings, Inc. has a 1-year low of $12.05 and a 1-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 (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $0.24 EPS. The business’s revenue was up 57.3% on a year-over-year basis. Analysts expect that AMC Entertainment Holdings, Inc. will post ($1.03) earnings per share for the current year.
AMC Entertainment Holdings declared that its board has initiated a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 58% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 annualized dividend and a yield of 4.98%. AMC Entertainment Holdings’s dividend payout ratio is presently -125.00%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Investors Inc. PA boosted 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 acquiring an additional 339,100 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of AMC Entertainment Holdings during the second quarter worth about $269,000. Thompson Siegel & Walmsley LLC boosted its stake in shares of AMC Entertainment Holdings by 15.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 908,121 shares of the company’s stock worth $20,660,000 after buying an additional 123,028 shares during the period. Alliancebernstein L.P. boosted its stake in shares of AMC Entertainment Holdings by 74.7% during the first quarter. Alliancebernstein L.P. now owns 75,348 shares of the company’s stock worth $2,370,000 after buying an additional 32,223 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of AMC Entertainment Holdings by 67.1% during the first quarter. Prudential Financial Inc. now owns 30,779 shares of the company’s stock worth $968,000 after buying an additional 12,360 shares during the period. Institutional investors own 46.96% of the company’s stock.
AMC has been the topic of several recent research reports. Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 target price (down previously from $35.00) on shares of AMC Entertainment Holdings in a research report on Saturday, July 22nd. Loop Capital reaffirmed a “buy” rating and set a $39.00 target price on shares of AMC Entertainment Holdings in a research report on Monday, July 10th. MKM Partners reaffirmed a “buy” rating and set a $36.00 target price (down previously from $45.00) on shares of AMC Entertainment Holdings in a research report on Friday, June 9th. B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down previously from $42.50) on shares of AMC Entertainment Holdings in a research report on Monday, July 31st. Finally, Wedbush reaffirmed a “buy” rating on shares of AMC Entertainment Holdings in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.76.
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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