PineView Asset Management LP increased its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 334.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,182,683 shares of the company’s stock after acquiring an additional 910,666 shares during the period. AMC Entertainment Holdings comprises about 7.4% of PineView Asset Management LP’s investment portfolio, making the stock its 8th biggest position. PineView Asset Management LP owned 0.90% of AMC Entertainment Holdings worth $26,906,000 at the end of the most recent quarter.
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. raised its stake in shares of AMC Entertainment Holdings by 12.0% in the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after acquiring an additional 601 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of AMC Entertainment Holdings in the first quarter worth about $141,000. BNP Paribas Arbitrage SA raised its stake in shares of AMC Entertainment Holdings by 574.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after acquiring an additional 6,055 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of AMC Entertainment Holdings by 1,837.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after acquiring 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, CEO Adam M. Aron acquired 35,000 shares of AMC Entertainment Holdings stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $15.79 per share, with a total value of $552,650.00. Following the purchase, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment Holdings stock in a transaction that occurred 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. Over the last ninety days, insiders have bought 62,000 shares of company stock worth $896,940. Insiders own 0.80% of the company’s stock.
A number of equities analysts have weighed in on AMC shares. BidaskClub downgraded shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note 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 note 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 for the company in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $30.00 target price (down previously from $35.00) on shares of AMC Entertainment Holdings in a research note on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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. The company has a market capitalization of $1.52 billion, a P/E ratio of 12.21 and a beta of 1.40. The company’s 50 day moving average is $14.75 and its 200 day moving average is $21.39. AMC Entertainment Holdings, Inc. has a 1-year low of $12.05 and a 1-year high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. Analysts predict that AMC Entertainment Holdings, Inc. will post ($1.01) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.82%. AMC Entertainment Holdings’s payout ratio is currently -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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