IndexIQ Advisors LLC purchased a new stake in AMC Entertainment Holdings Inc (NYSE:AMC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,539 shares of the company’s stock, valued at approximately $194,000. IndexIQ Advisors LLC owned 0.06% of AMC Entertainment at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mittleman Brothers LLC grew its holdings in shares of AMC Entertainment by 21.7% during the fourth quarter. Mittleman Brothers LLC now owns 2,745,680 shares of the company’s stock worth $19,879,000 after purchasing an additional 489,791 shares in the last quarter. Serengeti Asset Management LP bought a new stake in AMC Entertainment during the fourth quarter worth about $2,534,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of AMC Entertainment by 25.2% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,591,383 shares of the company’s stock valued at $11,522,000 after purchasing an additional 320,000 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in AMC Entertainment in the 4th quarter worth approximately $1,693,000. Finally, Bank of New York Mellon Corp grew its position in AMC Entertainment by 30.5% during the fourth quarter. Bank of New York Mellon Corp now owns 907,673 shares of the company’s stock valued at $6,572,000 after acquiring an additional 212,227 shares during the last quarter. Hedge funds and other institutional investors own 40.86% of the company’s stock.
Shares of AMC stock opened at $4.58 on Friday. The business’s fifty day moving average is $3.59 and its 200 day moving average is $6.04. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 8.02. AMC Entertainment Holdings Inc has a twelve month low of $1.95 and a twelve month high of $13.06.
A number of research analysts have recently issued reports on AMC shares. MKM Partners cut AMC Entertainment from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $7.50 to $3.30 in a research note on Thursday, April 9th. Loop Capital cut shares of AMC Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Benchmark downgraded shares of AMC Entertainment from a “buy” rating to a “hold” rating in a research note on Monday, March 16th. Macquarie downgraded AMC Entertainment from an “outperform” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Thursday, April 23rd. Finally, B. Riley upgraded AMC Entertainment from a “sell” rating to a “neutral” rating and set a $4.00 price objective on the stock in a research report on Monday, April 20th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. AMC Entertainment currently has a consensus rating of “Hold” and an average price target of $7.60.
AMC Entertainment Company Profile
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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