California State Teachers Retirement System lowered its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,740 shares of the company’s stock after selling 7,911 shares during the quarter. California State Teachers Retirement System owned approximately 0.07% of AMC Entertainment Holdings worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of AMC. BlackRock Inc. increased its stake in AMC Entertainment Holdings by 46,484.0% in 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 in the last quarter. Schroder Investment Management Group increased its stake in AMC Entertainment Holdings by 409.9% in 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 in the last quarter. Janus Henderson Group PLC purchased a new position in AMC Entertainment Holdings in the 2nd quarter worth about $63,789,000. Canyon Capital Advisors LLC purchased a new position in AMC Entertainment Holdings in the 2nd quarter worth about $44,363,000. Finally, Vanguard Group Inc. increased its stake in AMC Entertainment Holdings by 59.8% in 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 in the last quarter. 46.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $32.50 price target on shares of AMC Entertainment Holdings in a research note on Thursday, August 10th. Barrington Research reaffirmed an “outperform” rating and set a $23.00 target price on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Credit Suisse Group lowered their target price on AMC Entertainment Holdings from $12.00 to $10.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 7th. Loop Capital reaffirmed a “buy” rating and set a $33.00 target price (down previously from $39.00) on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada lowered their target price on AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note 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. AMC Entertainment Holdings currently has a consensus rating of “Hold” and a consensus price target of $25.78.
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Shares of AMC Entertainment Holdings, Inc. (NYSE AMC) opened at $11.65 on Tuesday. AMC Entertainment Holdings, Inc. has a 12 month low of $10.80 and a 12 month high of $35.65. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.01.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Monday, November 6th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. AMC Entertainment Holdings had a negative net margin of 3.87% and a negative return on equity of 6.20%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.28 EPS for the current fiscal year.
AMC Entertainment Holdings declared that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 58% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 6.87%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is currently -62.50%.
In related news, CEO Adam M. Aron bought 35,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $15.79 per share, for a total transaction of $552,650.00. Following the acquisition, the chief executive officer now owns 125,426 shares in the company, valued at $1,980,476.54. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’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 disclosure for this sale can be found here. Over the last 90 days, insiders purchased 62,000 shares of company stock valued at $896,940. Corporate insiders own 0.80% 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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