An issue of AMC Entertainment Holdings, Inc. (NYSE:AMC) debt rose 1.4% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 5.75% coupon and is set to mature on June 15, 2025. The bonds in the issue are now trading at $97.88 and were trading at $94.75 last week. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.
AMC has been the topic of several research analyst reports. B. Riley reissued a “buy” rating and issued a $32.50 price objective (down from $42.50) on shares of AMC Entertainment Holdings in a research report on Monday, July 31st. Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price target (down from $35.00) on shares of AMC Entertainment Holdings in a research report on Saturday, July 22nd. Loop Capital reiterated a “buy” rating and set a $39.00 price objective on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. MKM Partners reiterated a “buy” rating and set a $36.00 price objective (down from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Finally, Wedbush reiterated a “buy” rating on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $28.76.
Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) opened at 16.95 on Friday. The stock’s market cap is $2.22 billion. The firm has a 50-day moving average price of $14.70 and a 200 day moving average price of $23.68. AMC Entertainment Holdings, Inc. has a 52 week low of $12.05 and a 52 week high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. On average, analysts forecast that AMC Entertainment Holdings, Inc. will post ($1.02) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s payout ratio is currently -125.00%.
AMC Entertainment Holdings announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, Director Jack Qunyao Gao purchased 7,000 shares of AMC Entertainment Holdings stock in a transaction dated Wednesday, August 16th. The stock was purchased 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 approximately $141,435. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam M. Aron purchased 35,000 shares of AMC Entertainment Holdings stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $15.79 per share, with a total value of $552,650.00. Following the completion of the transaction, the chief executive officer now owns 125,426 shares in the company, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. Insiders acquired a total of 62,000 shares of company stock valued at $896,940 over the last quarter. Company insiders own 0.80% of the company’s stock.
A number of large investors have recently made changes to their positions in AMC. BlackRock Inc. increased its position 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 valued at $105,428,000 after buying an additional 3,344,988 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of AMC Entertainment Holdings by 409.9% in the second quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock valued at $91,456,000 after purchasing an additional 3,108,645 shares during the period. Janus Henderson Group PLC acquired a new position in shares of AMC Entertainment Holdings in the second quarter valued at about $63,789,000. Point72 Asset Management L.P. acquired a new position in shares of AMC Entertainment Holdings in the first quarter valued at about $73,011,000. Finally, Canyon Capital Advisors LLC acquired a new position in shares of AMC Entertainment Holdings in the second quarter valued at about $44,363,000. 46.96% of the stock is currently owned by institutional investors.
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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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