PEAK6 Investments LLC purchased a new position in shares of AMC Entertainment Holdings Inc (NYSE:AMC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 51,585 shares of the company’s stock, valued at approximately $1,057,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in AMC Entertainment by 56.6% during the 3rd quarter. Credit Suisse AG now owns 77,967 shares of the company’s stock valued at $1,599,000 after purchasing an additional 28,188 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in AMC Entertainment during the 3rd quarter valued at approximately $14,740,000. BlackRock Inc. increased its stake in AMC Entertainment by 3.0% during the 3rd quarter. BlackRock Inc. now owns 3,563,216 shares of the company’s stock valued at $73,044,000 after purchasing an additional 103,113 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AMC Entertainment by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 717,834 shares of the company’s stock valued at $14,715,000 after purchasing an additional 5,781 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in AMC Entertainment by 13.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 156,000 shares of the company’s stock valued at $3,198,000 after purchasing an additional 18,000 shares in the last quarter. 39.44% of the stock is owned by hedge funds and other institutional investors.
AMC has been the topic of a number of recent analyst reports. Wedbush upgraded shares of AMC Entertainment to a “buy” rating and set a $25.00 price target on the stock in a research note on Monday, September 17th. Barrington Research restated a “buy” rating and set a $22.00 price target on shares of AMC Entertainment in a research note on Friday, November 9th. ValuEngine upgraded shares of AMC Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. William Blair restated a “hold” rating on shares of AMC Entertainment in a research note on Monday, September 17th. Finally, MKM Partners lowered shares of AMC Entertainment from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Friday, September 14th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.81.
AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.33). The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment had a negative net margin of 6.17% and a negative return on equity of 0.63%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned ($0.33) earnings per share. Research analysts forecast that AMC Entertainment Holdings Inc will post -0.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Monday, December 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Friday, December 7th. AMC Entertainment’s dividend payout ratio (DPR) is currently -89.89%.
In other news, Director Wanda America Investment Holdi sold 75,826,927 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $1.82, for a total value of $138,005,007.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John D. Mcdonald sold 17,500 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $18.70, for a total transaction of $327,250.00. Following the completion of the sale, the executive vice president now directly owns 39,462 shares in the company, valued at $737,939.40. The disclosure for this sale can be found here. 0.01% of the stock is owned by corporate insiders.
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AMC Entertainment Profile
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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