AMC Entertainment Holdings, Inc. (NYSE:AMC) fell 1.5% on Tuesday after Barclays PLC downgraded the stock from an overweight rating to an equal weight rating. Barclays PLC now has a $25.00 price target on the stock, down from their previous price target of $31.00. AMC Entertainment Holdings traded as low as $19.65 and last traded at $20.00, with a volume of 1,934,842 shares changing hands. The stock had previously closed at $19.70.
AMC has been the subject of a number of other reports. Zacks Investment Research upgraded AMC Entertainment Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Credit Suisse Group lowered their price target on AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating for the company in a report on Friday, June 23rd. FBR & Co lowered their price target on AMC Entertainment Holdings from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, May 9th. BidaskClub downgraded AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of AMC Entertainment Holdings in a research note on Tuesday, April 11th. Three analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.59.
In other AMC Entertainment Holdings news, SVP Kevin M. Connor purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was bought at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the purchase, the senior vice president now owns 40,705 shares in the company, valued at approximately $957,381.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Adam M. Aron purchased 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was acquired at an average cost of $24.72 per share, with a total value of $247,200.00. Following the purchase, the chief executive officer now owns 90,426 shares of the company’s stock, valued at approximately $2,235,330.72. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock valued at $105,428,000 after buying an additional 3,344,988 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of AMC Entertainment Holdings during the first quarter valued at $73,011,000. Vanguard Group Inc. raised its stake in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock valued at $152,228,000 after buying an additional 1,811,552 shares during the period. FMR LLC raised its stake in shares of AMC Entertainment Holdings by 5,837.8% in the fourth quarter. FMR LLC now owns 723,524 shares of the company’s stock valued at $24,347,000 after buying an additional 711,339 shares during the period. Finally, Asturias Capital LLC purchased a new stake in shares of AMC Entertainment Holdings during the first quarter valued at $20,796,000. 41.02% of the stock is owned by institutional investors.
The firm’s 50 day moving average is $23.00 and its 200 day moving average is $28.68. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 22.66 and a beta of 1.35.
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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. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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