Canyon Capital Advisors LLC bought a new stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,950,000 shares of the company’s stock, valued at approximately $44,363,000. AMC Entertainment Holdings makes up 0.7% of Canyon Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Canyon Capital Advisors LLC owned about 1.49% of AMC Entertainment Holdings at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of AMC. Seven Eight Capital LP acquired a new position in AMC Entertainment Holdings in the second quarter valued at about $125,000. Pacer Advisors Inc. boosted its holdings in AMC Entertainment Holdings by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after purchasing an additional 601 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in AMC Entertainment Holdings during the first quarter worth $141,000. BNP Paribas Arbitrage SA boosted its holdings in AMC Entertainment Holdings by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in AMC Entertainment Holdings by 1,837.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 47.02% of the company’s stock.
In other news, Director Jack Qunyao Gao bought 7,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was acquired at an average cost of $13.47 per share, for a total transaction of $94,290.00. Following the acquisition, the director now owns 10,500 shares of the company’s stock, valued at $141,435. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction 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. Insiders acquired 62,000 shares of company stock worth $896,940 over the last three months. Insiders own 0.80% of the company’s stock.
AMC has been the topic of several analyst reports. BidaskClub lowered shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Barclays PLC set a $16.00 price target on shares of AMC Entertainment Holdings and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped their price target on shares of AMC Entertainment Holdings from $14.00 to $12.00 and set an “underperform” rating on the stock in a research report on Thursday, September 28th. Zacks Investment Research lowered shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price target (down from $35.00) on shares of AMC Entertainment Holdings in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. AMC Entertainment Holdings presently has a consensus rating of “Hold” and a consensus target price of $27.39.
AMC Entertainment Holdings, Inc. (AMC) traded up 0.36% during midday trading on Tuesday, hitting $13.80. 462,818 shares of the stock were exchanged. AMC Entertainment Holdings, Inc. has a 1-year low of $12.05 and a 1-year high of $35.65. The company’s 50 day moving average is $14.75 and its 200 day moving average is $21.39. The company has a market capitalization of $1.52 billion, a P/E ratio of 12.21 and a beta of 1.40.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.41). The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. Analysts predict that AMC Entertainment Holdings, Inc. will post ($1.01) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 annualized dividend and a yield of 5.82%. AMC Entertainment Holdings’s payout ratio is -125.00%.
AMC Entertainment Holdings declared that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 58% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
AMC Entertainment Holdings 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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