JPMorgan Chase & Co. decreased its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 82.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,436 shares of the company’s stock after selling 61,031 shares during the period. JPMorgan Chase & Co.’s holdings in AMC Entertainment Holdings were worth $306,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted 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 valued at $174,000 after purchasing an additional 3,932 shares during the last quarter. Pacer Advisors Inc. lifted its position in AMC Entertainment Holdings by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after acquiring an additional 601 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in AMC Entertainment Holdings by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after acquiring an additional 6,055 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in AMC Entertainment Holdings by 1,837.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in AMC Entertainment Holdings during the second quarter worth approximately $222,000. Institutional investors own 47.00% of the company’s stock.
Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) traded down $0.40 during trading on Friday, hitting $11.00. 4,078,800 shares of the company traded hands, compared to its average volume of 2,252,600. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.96. AMC Entertainment Holdings, Inc. has a one year low of $10.90 and a one year high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). AMC Entertainment Holdings had a negative return on equity of 6.24% and a negative net margin of 3.87%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. sell-side analysts predict that AMC Entertainment Holdings, Inc. will post -1.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.27%. AMC Entertainment Holdings’s dividend payout ratio is currently -62.50%.
AMC Entertainment Holdings announced that its board has authorized a stock buyback plan on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 58% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Jack Qunyao Gao bought 7,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were acquired at an average cost of $13.47 per share, for a total transaction of $94,290.00. Following the purchase, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $141,435. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $6.09, for a total transaction of $73,080,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have bought 62,000 shares of company stock valued at $896,940. 0.80% of the stock is currently owned by insiders.
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Several equities research analysts have issued reports on the stock. B. Riley restated a “buy” rating and set a $32.50 price objective (down from $42.50) on shares of AMC Entertainment Holdings in a research report on Monday, July 31st. William Blair assumed coverage on shares of AMC Entertainment Holdings in a research report on Friday, July 21st. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. ValuEngine downgraded shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Royal Bank of Canada dropped their price target on shares of 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.78.
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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