KBC Group NV Lowers Holdings in AMC Entertainment Holdings, Inc. (NYSE:AMC)


KBC Group NV reduced its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 15.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,897 shares of the company’s stock after selling 4,104 shares during the period. KBC Group NV’s holdings in AMC Entertainment were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AMC. BlackRock Inc. boosted its position in shares of AMC Entertainment by 7.2% during the 4th quarter. BlackRock Inc. Now owns 42,892,769 shares of the company’s stock worth $1,166,684,000 after purchasing an additional 2,877,100 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of AMC Entertainment by 86.7% during the 4th quarter. Renaissance Technologies LLC now owns 4,681,833 shares of the company’s stock worth $127,346,000 after purchasing an additional 2,174,300 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of AMC Entertainment by 432.1% during the 4th quarter. California Public Employees Retirement System now owns 619,400 shares of the company’s stock worth $16,848,000 after purchasing an additional 503,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of AMC Entertainment by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company’s stock worth $247,909,000 after purchasing an additional 423,548 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of AMC Entertainment during the 4th quarter worth $6,193,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment Price Performance

Shares of AMC stock opened at $23.96 on Tuesday. The firm has a 50-day moving average price of $14.45 and a 200 day moving average price of $15.91. AMC Entertainment Holdings, Inc. has a twelve month low of $9.70 and a twelve month high of $52.79.

AMC Entertainment (NYSE:AMC – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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. During the same period last year, the firm earned ($0.71) earnings per share. The company’s revenue was up 162.3% compared to the same quarter last year. Equities analysts predict that AMC Entertainment Holdings, Inc. will post -1.13 earnings per share 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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, August 12th.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMC. Citigroup decreased their target price on shares of 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 price target on AMC Entertainment to $34.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Wedbush” reaffirmed an “underperform rating and set a $4.00 price target on shares of AMC Entertainment in a research note on Tuesday, August 2nd. StockNews.com raised AMC Entertainment to a “sell” rating in a research note on Wednesday, July 20th. Finally, B. Riley cut their price target on AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, June 21st. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $13.50.

AMC Entertainment Company Profile

(Get Rating)

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.

Further Reading

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 – Get Rating).

Institutional Ownership by Quarter for AMC Entertainment (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.

.

Leave a Comment