Fox Run Management L.L.C. bought a new position in shares of AMC Entertainment Holdings Inc (NYSE:AMC) in the third quarter, HoldingsChannel.com reports. The fund bought 17,602 shares of the company’s stock, valued at approximately $361,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new position in shares of AMC Entertainment in the second quarter worth $352,000. Quantbot Technologies LP bought a new position in shares of AMC Entertainment in the first quarter worth $101,000. Bank of Montreal Can increased its position in shares of AMC Entertainment by 141.4% in the second quarter. Bank of Montreal Can now owns 9,006 shares of the company’s stock worth $143,000 after purchasing an additional 5,275 shares during the period. Hollencrest Capital Management bought a new position in shares of AMC Entertainment in the third quarter worth $208,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new position in shares of AMC Entertainment in the first quarter worth $146,000. 40.01% of the stock is owned by institutional investors.
In other AMC Entertainment news, EVP John D. Mcdonald sold 17,500 shares of AMC Entertainment stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $15.42, for a total value of $269,850.00. Following the transaction, the executive vice president now owns 56,961 shares in the company, valued at $878,338.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wanda America Investment Holdi sold 75,826,927 shares of AMC Entertainment stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $1.82, for a total value of $138,005,007.14. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, August 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. AMC Entertainment had a positive return on equity of 1.70% and a negative net margin of 5.15%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted ($1.35) earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, equities analysts anticipate that AMC Entertainment Holdings Inc will post 0.13 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 25th were given a $1.55 dividend. This represents a yield of 4.01%. The ex-dividend date was Monday, September 24th. AMC Entertainment’s dividend payout ratio is presently -89.89%.
AMC has been the topic of a number of recent analyst reports. ValuEngine upgraded AMC Entertainment from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, June 21st. Wedbush upgraded AMC Entertainment to a “buy” rating and set a $25.00 price target on the stock in a research report on Thursday, June 21st. Cfra restated a “buy” rating and issued a $18.00 price target on shares of AMC Entertainment in a research report on Wednesday, June 27th. Finally, Zacks Investment Research upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, July 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $20.28.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, operates in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2017, it owned, operated, or had interests in 649 theatres with a total of 8,224 screens in the United States; and 365 theatres and 2,945 screens internationally.
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