AMC Entertainment Holdings, Inc. (AMC) Upgraded by Zacks Investment Research to “Hold”
AMC Entertainment Holdings, Inc. (NYSE:AMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Barclays PLC set a $16.00 price objective on shares of AMC Entertainment Holdings and gave the company a “hold” rating in a research note on Tuesday, August 29th. MKM Partners reissued a “buy” rating and set a $36.00 price objective (down previously from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. Citigroup Inc. reissued a “buy” rating and set a $30.00 price objective (down previously from $35.00) on shares of AMC Entertainment Holdings in a report on Saturday, July 22nd. Finally, Credit Suisse Group lowered their target price on shares of AMC Entertainment Holdings from $14.00 to $12.00 and set an “underperform” rating on the stock in a research report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.90.
AMC Entertainment Holdings (NYSE AMC) traded up 8.16% during mid-day trading on Tuesday, hitting $15.90. 3,292,743 shares of the stock were exchanged. AMC Entertainment Holdings has a one year low of $12.05 and a one year high of $35.65. The company’s market cap is $2.08 billion. The company has a 50-day moving average price of $14.34 and a 200-day moving average price of $22.32.
AMC Entertainment Holdings (NYSE:AMC) last released its earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business posted $0.24 EPS. AMC Entertainment Holdings’s revenue was up 57.3% compared to the same quarter last year. Analysts forecast 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 authorized a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 58% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment Holdings 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack Qunyao Gao acquired 7,000 shares of the 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 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. In the last three months, insiders have acquired 62,000 shares of company stock worth $896,940. Corporate insiders own 0.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in AMC Entertainment Holdings during the first quarter worth about $141,000. Pacer Advisors Inc. acquired a new stake in AMC Entertainment Holdings in the 1st quarter worth about $157,000. Seven Eight Capital LP acquired a new stake in AMC Entertainment Holdings in the 2nd quarter worth about $125,000. Great West Life Assurance Co. Can boosted its stake in AMC Entertainment Holdings by 241.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after buying an additional 3,932 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in AMC Entertainment Holdings by 574.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after buying an additional 6,055 shares during the last quarter. Hedge funds and other institutional investors own 46.99% of the company’s stock.
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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