IndexIQ Advisors LLC acquired a new stake in AMC Entertainment Holdings Inc (NYSE:AMC) during the 1st quarter, Holdings Channel reports. The firm acquired 61,539 shares of the company’s stock, valued at approximately $194,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wiley BROS. Aintree Capital LLC purchased a new stake in shares of AMC Entertainment during the first quarter worth about $32,000. Palladium Partners LLC bought a new position in AMC Entertainment in the 1st quarter worth approximately $32,000. Arizona State Retirement System purchased a new stake in AMC Entertainment during the 1st quarter valued at approximately $39,000. Great West Life Assurance Co. Can purchased a new stake in AMC Entertainment during the 4th quarter valued at approximately $42,000. Finally, NEXT Financial Group Inc raised its position in shares of AMC Entertainment by 74.6% during the fourth quarter. NEXT Financial Group Inc now owns 6,085 shares of the company’s stock valued at $44,000 after buying an additional 2,600 shares during the last quarter. 40.86% of the stock is owned by hedge funds and other institutional investors.
Shares of AMC Entertainment stock opened at $4.58 on Friday. The stock has a 50 day moving average price of $3.59 and a 200-day moving average price of $6.04. AMC Entertainment Holdings Inc has a one year low of $1.95 and a one year high of $13.06. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 8.02.
AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.08 by $0.27. AMC Entertainment had a negative net margin of 2.73% and a negative return on equity of 6.69%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. AMC Entertainment’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts expect that AMC Entertainment Holdings Inc will post -4.38 earnings per share for the current fiscal year.
AMC has been the subject of several research analyst reports. ValuEngine raised shares of AMC Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 11th. Imperial Capital raised their price objective on AMC Entertainment from $2.00 to $3.00 and gave the company an “in-line” rating in a research report on Thursday, April 30th. B. Riley raised AMC Entertainment from a “sell” rating to a “neutral” rating and set a $4.00 target price on the stock in a report on Monday, April 20th. MKM Partners lowered AMC Entertainment from a “neutral” rating to a “sell” rating and dropped their price target for the company from $7.50 to $3.30 in a research note on Thursday, April 9th. Finally, Barrington Research restated a “hold” rating on shares of AMC Entertainment in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $7.60.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.
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