AMC Entertainment Holdings, Inc. (NYSE:AMC) CEO Adam M. Aron acquired 35,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was acquired at an average cost of $15.79 per share, with a total value of $552,650.00. Following the purchase, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) opened at 15.90 on Friday. AMC Entertainment Holdings, Inc. has a 52 week low of $12.05 and a 52 week high of $35.65. The stock has a 50 day moving average of $14.45 and a 200-day moving average of $23.38. The company’s market capitalization is $2.08 billion.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company posted $0.24 EPS. AMC Entertainment Holdings’s quarterly revenue was up 57.3% compared to the same quarter last year. On average, analysts anticipate that AMC Entertainment Holdings, Inc. will post ($1.02) EPS for the current year.
AMC Entertainment Holdings announced that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 58% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 annualized dividend and a yield of 5.03%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
Institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new stake in AMC Entertainment Holdings in the 1st quarter worth approximately $141,000. Pacer Advisors Inc. purchased a new stake in AMC Entertainment Holdings in the 1st quarter worth approximately $157,000. Seven Eight Capital LP purchased a new stake in AMC Entertainment Holdings in the 2nd quarter worth approximately $125,000. Great West Life Assurance Co. Can boosted its position in AMC Entertainment Holdings by 241.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after purchasing an additional 3,932 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in AMC Entertainment Holdings by 574.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares in the last quarter. Institutional investors and hedge funds own 46.95% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, June 7th. Citigroup Inc. dropped their price target on shares of AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, June 9th. MKM Partners reaffirmed a “buy” rating and issued a $36.00 target price (down from $45.00) on shares of AMC Entertainment Holdings in a research report on Friday, June 9th. BidaskClub cut shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Finally, Credit Suisse Group dropped their target price on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating for the company in a research report on Friday, June 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $28.23.
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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