Schwab Charles Investment Management Inc. boosted its stake in shares of AMC Entertainment Holdings Inc (NYSE:AMC) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 318,436 shares of the company’s stock after buying an additional 58,035 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.24% of AMC Entertainment worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its stake in shares of AMC Entertainment by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after buying an additional 372 shares during the period. Seven Eight Capital LP purchased a new position in shares of AMC Entertainment during the second quarter valued at approximately $125,000. Pacer Advisors Inc. lifted its stake in shares of AMC Entertainment by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after buying an additional 601 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in shares of AMC Entertainment during the third quarter valued at approximately $147,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of AMC Entertainment by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after buying an additional 6,055 shares during the period. Institutional investors and hedge funds own 48.71% of the company’s stock.
Several brokerages recently issued reports on AMC. Zacks Investment Research raised shares of AMC Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Wedbush set a $19.00 price target on shares of AMC Entertainment and gave the stock a “buy” rating in a research note on Monday, January 8th. Royal Bank of Canada downgraded shares of AMC Entertainment from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 10th. Finally, B. Riley set a $31.00 price target on shares of AMC Entertainment and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $23.25.
AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. AMC Entertainment had a negative net margin of 3.87% and a negative return on equity of 6.20%. AMC Entertainment’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. analysts forecast that AMC Entertainment Holdings Inc will post -1.23 earnings per share for the current year.
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AMC Entertainment Company Profile
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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