Phoenix Investment Adviser LLC bought a new stake in AMC Entertainment Holdings Inc (NYSE:AMC) in the 4th quarter, HoldingsChannel.com reports. The fund bought 88,000 shares of the company’s stock, valued at approximately $1,329,000. AMC Entertainment accounts for about 1.3% of Phoenix Investment Adviser LLC’s investment portfolio, making the stock its 9th largest position.
A number of other institutional investors also recently bought and sold shares of AMC. Ameritas Investment Partners Inc. increased its holdings in AMC Entertainment 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 purchasing an additional 372 shares during the last quarter. Seven Eight Capital LP acquired a new stake in AMC Entertainment in the 2nd quarter valued at approximately $125,000. NJ State Employees Deferred Compensation Plan purchased a new position in AMC Entertainment in the 3rd quarter valued at approximately $147,000. BNP Paribas Arbitrage SA boosted its position in AMC Entertainment 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. Finally, Financial Consulate Inc. purchased a new position in AMC Entertainment in the 3rd quarter valued at approximately $162,000. Hedge funds and other institutional investors own 48.60% of the company’s stock.
AMC has been the subject of several recent research reports. Wedbush set a $19.00 price target on shares of AMC Entertainment and gave the company a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research cut shares of AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. B. Riley set a $31.00 price target on shares of AMC Entertainment and gave the company a “buy” rating in a research report on Wednesday, October 18th. Royal Bank of Canada cut shares of AMC Entertainment from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 10th. Finally, Credit Suisse Group decreased their price target on shares of AMC Entertainment from $14.00 to $12.00 and set an “underperform” rating for the company in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $24.23.
AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. AMC Entertainment’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. sell-side analysts expect that AMC Entertainment Holdings Inc will post -1.24 earnings per share for the current year.
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.
Want to see what other hedge funds are holding AMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMC Entertainment Holdings Inc (NYSE:AMC).
Receive News & Ratings for AMC Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.