AMC Entertainment Holdings Inc (NYSE:AMC) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 19,150,000 shares, an increase of 11.7% from the September 30th total of 17,140,000 shares. Currently, 37.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,360,000 shares, the days-to-cover ratio is currently 8.1 days.
AMC has been the topic of a number of research reports. Goldman Sachs Group set a $11.00 price target on AMC Entertainment and gave the stock a “hold” rating in a report on Tuesday, October 15th. Zacks Investment Research raised AMC Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TheStreet raised AMC Entertainment from a “d+” rating to a “c-” rating in a report on Tuesday, September 17th. B. Riley reissued a “buy” rating and set a $22.00 price target (up previously from $19.00) on shares of AMC Entertainment in a report on Friday, August 9th. Finally, Roth Capital initiated coverage on AMC Entertainment in a report on Friday, July 19th. They set an “outperform” rating and a $18.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. AMC Entertainment has a consensus rating of “Buy” and a consensus price target of $15.50.
A number of institutional investors and hedge funds have recently made changes to their positions in AMC. New Jersey Better Educational Savings Trust raised its position in shares of AMC Entertainment by 33.3% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 16,000 shares of the company’s stock worth $149,000 after acquiring an additional 4,000 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in AMC Entertainment during the 2nd quarter valued at about $262,000. North Star Investment Management Corp. increased its position in AMC Entertainment by 37.7% during the 2nd quarter. North Star Investment Management Corp. now owns 181,501 shares of the company’s stock valued at $1,693,000 after buying an additional 49,735 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in AMC Entertainment during the 2nd quarter valued at about $158,000. Finally, Clear Harbor Asset Management LLC acquired a new position in AMC Entertainment during the 2nd quarter valued at about $333,000. 49.76% of the stock is currently owned by institutional investors.
AMC traded down $0.48 during trading on Wednesday, reaching $8.80. The company’s stock had a trading volume of 6,797,258 shares, compared to its average volume of 2,045,784. AMC Entertainment has a 52-week low of $8.73 and a 52-week high of $17.07. The company’s fifty day moving average price is $9.77 and its 200-day moving average price is $11.12. The company has a market capitalization of $999.03 million, a price-to-earnings ratio of 67.69 and a beta of 0.81. The company has a debt-to-equity ratio of 8.16, a quick ratio of 0.27 and a current ratio of 0.27.
AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.11). AMC Entertainment had a net margin of 0.64% and a negative return on equity of 8.31%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm posted ($0.82) EPS. AMC Entertainment’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts predict that AMC Entertainment will post -0.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date is Friday, November 29th. AMC Entertainment’s dividend payout ratio is presently 615.38%.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.
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