Cambridge Investment Research Advisors Inc. trimmed its stake in AMC Entertainment Holdings Inc (NYSE:AMC) by 21.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,096 shares of the company’s stock after selling 19,161 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.06% of AMC Entertainment worth $1,130,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in AMC Entertainment in the 1st quarter worth $101,000. Oppenheimer Asset Management Inc. bought a new position in AMC Entertainment in the 1st quarter worth $142,000. Bank of Montreal Can boosted its holdings in AMC Entertainment by 141.4% in the 2nd quarter. Bank of Montreal Can now owns 9,006 shares of the company’s stock worth $143,000 after buying an additional 5,275 shares during the period. Gargoyle Investment Advisor L.L.C. bought a new position in AMC Entertainment in the 1st quarter worth $146,000. Finally, Chartwell Investment Partners LLC bought a new position in AMC Entertainment in the 2nd quarter worth $166,000. Hedge funds and other institutional investors own 40.01% of the company’s stock.
Shares of AMC traded down $0.27 during midday trading on Friday, hitting $19.70. 1,566,458 shares of the company traded hands, compared to its average volume of 1,809,580. AMC Entertainment Holdings Inc has a 52 week low of $10.80 and a 52 week high of $21.45. The company has a market capitalization of $2.62 billion, a PE ratio of -22.13, a price-to-earnings-growth ratio of 15.53 and a beta of 0.82. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41.
AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. AMC Entertainment had a negative net margin of 5.15% and a positive return on equity of 1.70%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned ($1.35) EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts expect that AMC Entertainment Holdings Inc will post 0.13 earnings per share for the current year.
The firm also recently declared a special dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 25th were issued a $1.55 dividend. This represents a dividend yield of 4.01%. The ex-dividend date of this dividend was Monday, September 24th. AMC Entertainment’s payout ratio is -89.89%.
In related news, Director Wanda America Investment Holdi sold 75,826,927 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John D. Mcdonald sold 17,500 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $15.42, for a total transaction of $269,850.00. Following the completion of the transaction, the executive vice president now directly owns 56,961 shares of the company’s stock, valued at approximately $878,338.62. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
AMC has been the subject of several recent analyst reports. ValuEngine raised shares of AMC Entertainment from a “strong sell” rating to a “sell” rating in a report on Thursday, June 21st. Benchmark raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Thursday, June 21st. Wedbush raised shares of AMC Entertainment to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, June 21st. Cfra reissued a “buy” rating and set a $18.00 price objective on shares of AMC Entertainment in a report on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price 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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