AMC Entertainment Holdings, Inc. (NYSE:AMC) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $11.20 and last traded at $11.25, with a volume of 1580988 shares trading hands. The stock had previously closed at $11.40.
A number of equities research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $32.50 price target (down previously from $42.50) on shares of AMC Entertainment Holdings in a research note on Monday, July 31st. William Blair assumed coverage on shares of AMC Entertainment Holdings in a research note on Friday, July 21st. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. ValuEngine cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada dropped their price target on shares of AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.78.
The company has a debt-to-equity ratio of 1.96, a current ratio of 0.54 and a quick ratio of 0.54.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings results on Monday, November 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). AMC Entertainment Holdings had a negative return on equity of 6.24% and a negative net margin of 3.87%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 7.27%. AMC Entertainment Holdings’s dividend payout ratio is presently -62.50%.
AMC Entertainment Holdings declared that its board has approved a stock repurchase program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 58% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack Qunyao Gao acquired 7,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average price of $13.47 per share, for a total transaction of $94,290.00. Following the completion of the acquisition, the director now owns 10,500 shares in the company, valued at approximately $141,435. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 62,000 shares of company stock worth $896,940. Insiders own 0.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings in AMC Entertainment Holdings by 8.3% in the 2nd 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 stake in AMC Entertainment Holdings in the 2nd quarter valued at about $125,000. Pacer Advisors Inc. raised its holdings in AMC Entertainment Holdings by 12.0% in the 2nd 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 stake in AMC Entertainment Holdings in the 3rd quarter valued at about $147,000. Finally, BNP Paribas Arbitrage SA raised its holdings in AMC Entertainment Holdings by 574.5% in the 2nd 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. Hedge funds and other institutional investors own 47.00% of the company’s stock.
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About AMC Entertainment Holdings
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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