Corbyn Investment Management Inc. MD lifted its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,509 shares of the company’s stock after acquiring an additional 13,755 shares during the quarter. AMC Entertainment Holdings comprises approximately 2.7% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 16th biggest holding. Corbyn Investment Management Inc. MD owned approximately 0.44% of AMC Entertainment Holdings worth $8,504,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of AMC. Vanguard Group Inc. increased its stake in AMC Entertainment Holdings by 59.8% during the 1st quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after buying an additional 1,811,552 shares during the period. Schroder Investment Management Group increased its stake in AMC Entertainment Holdings by 409.9% during the 2nd quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after buying an additional 3,108,645 shares during the period. BlackRock Inc. increased its stake in AMC Entertainment Holdings by 46,484.0% during the 1st quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after buying an additional 3,344,988 shares during the period. Janus Henderson Group PLC purchased a new stake in AMC Entertainment Holdings during the 2nd quarter worth $63,789,000. Finally, Dimensional Fund Advisors LP increased its stake in AMC Entertainment Holdings by 36.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,028,302 shares of the company’s stock worth $46,146,000 after buying an additional 540,854 shares during the period. Institutional investors and hedge funds own 47.00% of the company’s stock.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack Qunyao Gao acquired 7,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $13.47 per share, with a total value of $94,290.00. Following the transaction, the director now owns 10,500 shares in the company, valued at $141,435. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 62,000 shares of company stock valued at $896,940. Insiders own 0.80% of the company’s stock.
Shares of AMC Entertainment Holdings, Inc. (AMC) traded down $0.40 during trading hours on Friday, hitting $11.00. 4,078,800 shares of the company were exchanged, compared to its average volume of 2,252,600. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.96. AMC Entertainment Holdings, Inc. has a twelve month low of $10.90 and a twelve month high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). AMC Entertainment Holdings had a negative net margin of 3.87% and a negative return on equity of 6.24%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned $0.31 EPS. AMC Entertainment Holdings’s quarterly revenue was up 51.2% on a year-over-year basis. equities analysts expect that AMC Entertainment Holdings, Inc. will post -1.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date of this dividend is Friday, December 1st. AMC Entertainment Holdings’s dividend payout ratio is presently -62.50%.
AMC Entertainment Holdings announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 58% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
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Several research firms recently issued reports on AMC. B. Riley reaffirmed a “buy” rating and set a $32.50 price target on shares of AMC Entertainment Holdings in a research note on Thursday, August 10th. Barrington Research reaffirmed an “outperform” rating and set a $23.00 price target on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Credit Suisse Group dropped their price target on shares of AMC Entertainment Holdings from $12.00 to $10.00 and set an “underperform” rating on the stock in a research note on Tuesday. Loop Capital reaffirmed a “buy” rating and set a $33.00 price target (down previously from $39.00) on shares of AMC Entertainment Holdings in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada dropped their price target on shares of AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. AMC Entertainment Holdings has an average rating of “Hold” and a consensus target price of $25.78.
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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