Commonwealth Equity Services LLC Grows Stock Position in AMC Entertainment Holdings, Inc. (NYSE:AMC)


Commonwealth Equity Services LLC increased its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,562 shares of the company’s stock after buying an additional 10,501 during the quarter. Commonwealth Equity Services LLC’s holdings in AMC Entertainment were worth $2,822,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. abrdn plc raised its position in shares of AMC Entertainment by 20.2% during the 1st quarter. abrdn plc now owns 67,166 shares of the company’s stock valued at $1,610,000 after buying an additional 11,280 shares during the period. Arizona State Retirement System raised its position in shares of AMC Entertainment by 2.4% during the 1st quarter. Arizona State Retirement System now owns 143,065 shares of the company’s stock valued at $3,525,000 after buying an additional 3,303 shares during the period. LVW Advisors LLC purchased a new stake in shares of AMC Entertainment during the 1st quarter valued at approximately $260,000. Schneider Downs Wealth Management Advisors LP raised its position in AMC Entertainment by 69.6% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 16,974 shares of the company’s stock valued at $418,000 after purchasing an additional 6,966 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in AMC Entertainment by 8.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 46,470 shares of the company’s stock valued at $1,181,000 after purchasing an additional 3,778 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.

AMC Entertainment Trading Up 18.9%

Shares of AMC stock opened at $22.18 on Monday. The firm has a fifty day moving average price of $14.26 and a 200 day moving average price of $15.87. The company has a market cap of $11.46 billion, a P/E ratio of -13.95 and a beta of 1.64. 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 issued its earnings results on Thursday, August 4th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. The company’s quarterly revenue was up 162.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.71) EPS. On average, equities analysts forecast that AMC Entertainment Holdings, Inc. will post -1.13 EPS for the current year.

AMC Entertainment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, August 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup cut their target price on AMC Entertainment from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, July 7th. The Goldman Sachs Group cut their objective price on AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Wedbush” reaffirmed an “underperform rating and set a $4.00 objective price on shares of AMC Entertainment in a research report on Tuesday, August 2nd. B. Riley cut their objective price on AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 21st. Finally, StockNews.com raised AMC Entertainment to a “sell” rating in a research report on Wednesday, July 20th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $13.50.

About AMC Entertainment

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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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Institutional Ownership by Quarter for AMC Entertainment (NYSE:AMC)



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