AMC Entertainment Holdings, Inc. (AMC) Given a $21.00 Price Target by Wedbush Analysts
AMC Entertainment Holdings, Inc. (NYSE:AMC) has been assigned a $21.00 target price by research analysts at Wedbush in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Wedbush’s target price would suggest a potential upside of 51.08% from the company’s previous close.
Several other research analysts have also recently commented on AMC. B. Riley reissued a “buy” rating and set a $32.50 price target on shares of AMC Entertainment Holdings in a research report on Thursday, August 10th. Barrington Research reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of AMC Entertainment Holdings in a research report on Tuesday, August 8th. Loop Capital reaffirmed a “buy” rating and issued a $33.00 price objective (down from $39.00) on shares of AMC Entertainment Holdings in a research report on Tuesday, August 8th. Royal Bank Of Canada cut their price objective on AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. AMC Entertainment Holdings currently has an average rating of “Hold” and an average target price of $26.31.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) 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 for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 57.3% on a year-over-year basis.
AMC Entertainment Holdings announced that its board has authorized a stock buyback program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 58% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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In other news, CEO Adam M. Aron purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $15.79 per share, with a total value of $552,650.00. Following the acquisition, the chief executive officer now owns 125,426 shares in the company, valued at approximately $1,980,476.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Qunyao Gao purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $12.50 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director now owns 30,500 shares in the company, valued at approximately $381,250. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 62,000 shares of company stock valued at $896,940. 0.80% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in AMC Entertainment Holdings by 59.8% during the 1st quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after purchasing an additional 1,811,552 shares during the last quarter. Schroder Investment Management Group lifted its holdings in AMC Entertainment Holdings by 409.9% during the 2nd quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after purchasing an additional 3,108,645 shares during the last quarter. BlackRock Inc. lifted its holdings in AMC Entertainment Holdings by 46,484.0% during the 1st quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after purchasing an additional 3,344,988 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in AMC Entertainment Holdings during the 2nd quarter worth approximately $63,789,000. Finally, Dimensional Fund Advisors LP lifted its holdings in AMC Entertainment Holdings by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,028,302 shares of the company’s stock worth $46,146,000 after purchasing an additional 540,854 shares during the last quarter. 46.82% of the stock is owned by institutional investors and hedge funds.
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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