New York State Common Retirement Fund decreased its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 367,765 shares of the company’s stock after selling 2,899 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of AMC Entertainment worth $9,062,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in AMC Entertainment by 1.3% during the fourth quarter. State Street Corp now owns 13,286,116 shares of the company’s stock worth $361,382,000 after acquiring an additional 171,759 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in AMC Entertainment by 862.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,164 shares of the company’s stock worth $32,000 after acquiring an additional 1,043 during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Ltd. increased its stake in AMC Entertainment by 9.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Ltd. now owns 121,648 shares of the company’s stock worth $3,226,000 after acquiring an additional 10,348 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in AMC Entertainment during the fourth quarter worth $2,546,000. Finally, abrdn plc increased its stake in AMC Entertainment by 4.7% during the fourth quarter. abrdn plc now owns 55,886 shares of the company’s stock worth $1,520,000 after acquiring an additional 2,487 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.
AMC Entertainment Trading Up 8.0%
NYSE:AMC opened at $23.96 on Tuesday. The firm has a market cap of $12.38 billion, a PE ratio of -15.07 and a beta of 1.65. The stock has a fifty day moving average price of $14.45 and a 200 day moving average price of $15.91. AMC Entertainment Holdings, Inc. has a 12-month low of $9.70 and a 12-month high of $52.79.
AMC Entertainment (NYSE:AMC – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. The company’s revenue for the quarter was up 162.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.71) EPS. Equities analysts forecast that AMC Entertainment Holdings, Inc. will post -1.13 EPS for the current year.
AMC Entertainment Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annual basis and a yield of 0.17%. The ex-dividend date of this dividend is Friday, August 12th. AMC Entertainment’s dividend payout ratio is presently -7.55%.
Analysts Set New Price Targets
Several research firms have recently commented on AMC. Citigroup lowered their price target on AMC Entertainment from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Thursday, July 7th. Wedbush restated an “underperform” rating and set a $4.00 price target on shares of AMC Entertainment in a research report on Tuesday, August 2nd. B. Riley lowered their price target on AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research report on Wednesday, July 20th. Finally, The Goldman Sachs Group lowered their price target on AMC Entertainment to $34.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, AMC Entertainment currently has an average rating of “Reduce” and an average price target of $13.50.
AMC Entertainment Profile
AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.
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