AMC Entertainment Holdings, Inc. (NYSE:AMC) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 75.2% during the first quarter, Holdings Channel reports. The firm owned 12,781 shares of the company’s stock after buying an additional 5,484 shares during the period. Legal & General Group Plc’s holdings in AMC Entertainment Holdings were worth $402,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AMC. Schroder Investment Management Group increased its stake in AMC Entertainment Holdings by 106.2% in the first quarter. Schroder Investment Management Group now owns 758,403 shares of the company’s stock valued at $23,624,000 after buying an additional 390,664 shares during the period. Waterfront Capital Partners LLC bought a new stake in AMC Entertainment Holdings during the first quarter valued at $11,488,000. Tricadia Capital Management LLC increased its stake in AMC Entertainment Holdings by 242.8% in the first quarter. Tricadia Capital Management LLC now owns 514,150 shares of the company’s stock valued at $16,170,000 after buying an additional 364,150 shares during the period. Falcon Point Capital LLC bought a new stake in AMC Entertainment Holdings during the first quarter valued at $10,354,000. Finally, Bank of New York Mellon Corp increased its stake in AMC Entertainment Holdings by 35.7% in the first quarter. Bank of New York Mellon Corp now owns 440,593 shares of the company’s stock valued at $13,856,000 after buying an additional 115,861 shares during the period. 42.02% of the stock is owned by hedge funds and other institutional investors.

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) opened at 16.175 on Monday. The firm has a 50-day moving average of $22.18 and a 200-day moving average of $27.80. The company has a market capitalization of $2.12 billion, a P/E ratio of 18.465 and a beta of 1.31. AMC Entertainment Holdings, Inc. has a 12 month low of $16.05 and a 12 month high of $35.65.

AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.61%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned $0.24 earnings per share. The company’s revenue was up 57.3% on a year-over-year basis. On average, equities analysts predict that AMC Entertainment Holdings, Inc. will post ($1.03) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 4.92%. AMC Entertainment Holdings’s dividend payout ratio is currently -125.00%.

AMC Entertainment Holdings announced that its board has authorized a share repurchase plan on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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Several equities research analysts have weighed in on AMC shares. Zacks Investment Research downgraded shares of AMC Entertainment Holdings from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. Loop Capital reaffirmed a “buy” rating and issued a $39.00 price target on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Barclays PLC lifted their price target on shares of AMC Entertainment Holdings from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. FBR & Co reaffirmed a “buy” rating and issued a $37.00 price target on shares of AMC Entertainment Holdings in a research note on Friday, April 21st. Finally, TheStreet downgraded shares of AMC Entertainment Holdings from a “b-” rating to a “c+” rating in a research note on Friday, May 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. AMC Entertainment Holdings has a consensus rating of “Hold” and a consensus target price of $31.03.

In other news, SVP Kevin M. Connor acquired 4,000 shares of AMC Entertainment Holdings stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $23.52 per share, for a total transaction of $94,080.00. Following the purchase, the senior vice president now owns 40,705 shares in the company, valued at $957,381.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam M. Aron acquired 10,000 shares of AMC Entertainment Holdings stock in a transaction on Friday, June 2nd. The shares were purchased at an average price of $24.72 per share, with a total value of $247,200.00. Following the completion of the purchase, the chief executive officer now owns 90,426 shares in the company, valued at approximately $2,235,330.72. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by company insiders.

AMC Entertainment Holdings Company Profile

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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