Barrington Research reaffirmed their buy rating on shares of AMC Entertainment (NYSE:AMC) in a research report released on Friday. Barrington Research currently has a $22.00 price target on the stock.
A number of other equities analysts also recently issued reports on the company. Wedbush raised AMC Entertainment to a buy rating and set a $25.00 target price for the company in a research note on Friday. ValuEngine raised AMC Entertainment from a hold rating to a buy rating in a research note on Tuesday, October 2nd. William Blair reissued a hold rating on shares of AMC Entertainment in a research note on Monday, September 17th. MKM Partners downgraded AMC Entertainment from a buy rating to a neutral rating and set a $21.00 target price for the company. in a research note on Friday, September 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded AMC Entertainment from a buy rating to a hold rating in a research note on Friday, July 20th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. AMC Entertainment presently has an average rating of Buy and an average target price of $21.81.
AMC Entertainment stock traded down $2.47 during mid-day trading on Friday, reaching $15.66. 6,800,138 shares of the company were exchanged, compared to its average volume of 1,907,198. AMC Entertainment has a twelve month low of $10.80 and a twelve month high of $21.45. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 65.64, a PEG ratio of 114.88 and a beta of 0.83.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Monday, December 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend is Friday, December 7th. AMC Entertainment’s payout ratio is currently -89.89%.
In related news, Director Wanda America Investment Holdi sold 75,826,927 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $1.82, for a total value of $138,005,007.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John D. Mcdonald sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $18.70, for a total value of $327,250.00. Following the completion of the transaction, the executive vice president now directly owns 39,462 shares of the company’s stock, valued at $737,939.40. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMC. JPMorgan Chase & Co. increased its stake in AMC Entertainment by 105.0% in the 1st quarter. JPMorgan Chase & Co. now owns 27,353 shares of the company’s stock valued at $384,000 after purchasing an additional 572,903 shares in the last quarter. LPL Financial LLC increased its stake in AMC Entertainment by 67.3% in the 1st quarter. LPL Financial LLC now owns 42,903 shares of the company’s stock valued at $603,000 after purchasing an additional 17,254 shares in the last quarter. Guggenheim Capital LLC increased its stake in AMC Entertainment by 167.7% in the 1st quarter. Guggenheim Capital LLC now owns 50,970 shares of the company’s stock valued at $717,000 after purchasing an additional 31,930 shares in the last quarter. Millennium Management LLC purchased a new position in AMC Entertainment in the 1st quarter valued at approximately $2,156,000. Finally, Royal Bank of Canada increased its stake in AMC Entertainment by 10.3% in the 1st quarter. Royal Bank of Canada now owns 41,863 shares of the company’s stock valued at $588,000 after purchasing an additional 3,898 shares in the last quarter. 40.25% of the stock is owned by hedge funds and other institutional investors.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, operates in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2017, it owned, operated, or had interests in 649 theatres with a total of 8,224 screens in the United States; and 365 theatres and 2,945 screens internationally.
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