Bank of New York Mellon Corp increased its position in AMC Entertainment Holdings Inc. (NYSE:AMC) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 204,604 shares of the company’s stock after buying an additional 8,857 shares during the period. Bank of New York Mellon Corp owned about 0.21% of AMC Entertainment Holdings worth $5,648,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in AMC. AXA bought a new stake in AMC Entertainment Holdings during the first quarter worth approximately $238,000. Acadian Asset Management LLC bought a new stake in AMC Entertainment Holdings during the second quarter worth approximately $298,000. Chicago Equity Partners LLC bought a new stake in AMC Entertainment Holdings during the second quarter worth approximately $576,000. Picton Mahoney Asset Management bought a new stake in AMC Entertainment Holdings during the first quarter worth approximately $793,000. Finally, A.R.T. Advisors LLC boosted its stake in AMC Entertainment Holdings by 26.2% in the first quarter. A.R.T. Advisors LLC now owns 38,003 shares of the company’s stock worth $1,063,000 after buying an additional 7,900 shares in the last quarter. 21.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMC Entertainment Holdings Inc. (NYSE:AMC) traded down 1.04% during mid-day trading on Friday, reaching $31.33. The company’s stock had a trading volume of 186,427 shares. The firm’s 50-day moving average price is $30.28 and its 200 day moving average price is $28.86. The firm has a market cap of $3.05 billion, a P/E ratio of 29.01 and a beta of 1.57. AMC Entertainment Holdings Inc. has a 12-month low of $19.28 and a 12-month high of $32.28.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.03. AMC Entertainment Holdings had a net margin of 3.53% and a return on equity of 6.83%. The company earned $764 million during the quarter, compared to analysts’ expectations of $772.99 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, analysts expect that AMC Entertainment Holdings Inc. will post $1.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Tuesday, September 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. AMC Entertainment Holdings’s dividend payout ratio is presently 74.77%.
A number of research firms have recently commented on AMC. B. Riley reissued a “buy” rating and issued a $37.00 target price on shares of AMC Entertainment Holdings in a research note on Tuesday, July 26th. Credit Suisse Group AG reissued an “outperform” rating and issued a $34.00 target price on shares of AMC Entertainment Holdings in a research note on Sunday, June 12th. Topeka Capital Markets cut their target price on AMC Entertainment Holdings from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, June 1st. Zacks Investment Research raised AMC Entertainment Holdings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Finally, MKM Partners upped their price target on AMC Entertainment Holdings from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, July 25th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.50.
In related news, CEO Adam M. Aron purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average cost of $28.80 per share, for a total transaction of $288,000.00. Following the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $576,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is owned by insiders.
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. The Company operates through theatrical exhibition operations segment.
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