AMC Entertainment Holdings, Inc. (AMC) Downgraded by Zacks Investment Research
AMC Entertainment Holdings, Inc. (NYSE:AMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
Several other brokerages also recently issued reports on AMC. Royal Bank Of Canada lowered their price target on AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Wedbush set a $23.00 price objective on AMC Entertainment Holdings and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC downgraded AMC Entertainment Holdings from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $31.00 to $25.00 in a report on Wednesday, July 19th. Citigroup Inc. decreased their price objective on AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating for the company in a report on Friday, June 9th. Finally, MKM Partners reiterated a “buy” rating and set a $28.00 price objective on shares of AMC Entertainment Holdings in a report on Monday. Four analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.23.
Shares of AMC Entertainment Holdings (NYSE:AMC) traded up 0.63% during midday trading on Friday, reaching $15.90. The company’s stock had a trading volume of 1,654,196 shares. The company’s market cap is $2.08 billion. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The stock has a 50-day moving average of $14.45 and a 200 day moving average of $23.38.
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 the consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was up 57.3% compared to the same quarter last year. On average, analysts predict that AMC Entertainment Holdings will post ($1.02) earnings per share for the current fiscal year.
AMC Entertainment Holdings declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 58% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Qunyao Gao acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $13.47 per share, with a total value of $94,290.00. Following the completion of the transaction, the director now owns 10,500 shares of the company’s stock, valued at $141,435. The disclosure for this purchase can be found here. Insiders have purchased 62,000 shares of company stock valued at $896,940 over the last three months. Insiders own 0.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMC. Ameritas Investment Partners Inc. lifted its position in shares of AMC Entertainment Holdings by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after buying an additional 372 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of AMC Entertainment Holdings in the second quarter valued at approximately $125,000. Pacer Advisors Inc. lifted its position in shares of AMC Entertainment Holdings by 12.0% in the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after buying an additional 601 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of AMC Entertainment Holdings by 574.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after buying an additional 6,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of AMC Entertainment Holdings by 1,837.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock valued at $163,000 after buying an additional 6,800 shares during the last quarter. 46.95% of the stock is owned by institutional investors.
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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