State Board of Administration of Florida Retirement System boosted its holdings in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 130.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,992 shares of the company’s stock after acquiring an additional 84,247 shares during the period. State Board of Administration of Florida Retirement System’s holdings in AMC Entertainment were worth $8,445,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AMC. Evolution Wealth Advisors LLC bought a new position in AMC Entertainment in the second quarter worth about $28,000. Rockefeller Capital Management L.P. bought a new stake in shares of AMC Entertainment during the second quarter valued at approximately $28,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of AMC Entertainment by 281.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $30,000 after buying an additional 2,140 shares during the last quarter. Rockbridge Investment Management LCC bought a new stake in shares of AMC Entertainment during the second quarter valued at approximately $31,000. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of AMC Entertainment by 221.0% during the second quarter. TCI Wealth Advisors Inc. now owns 642 shares of the company’s stock valued at $36,000 after buying an additional 442 shares during the last quarter. 24.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut AMC Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, July 22nd. Macquarie lowered shares of AMC Entertainment from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 1st. Wedbush reiterated a “hold” rating and set a $7.50 price objective on shares of AMC Entertainment in a research note on Thursday, August 12th. B. Riley lowered shares of AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, May 26th. Finally, Citigroup raised their price objective on shares of AMC Entertainment from $3.70 to $5.00 and gave the company a “sell” rating in a research note on Thursday, August 19th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, AMC Entertainment currently has a consensus rating of “Sell” and a consensus target price of $10.36.
AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Sunday, August 8th. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.20. The firm had revenue of $444.70 million during the quarter, compared to analyst estimates of $382.11 million. During the same quarter in the prior year, the business earned ($5.44) EPS. The business’s revenue was up 2252.9% compared to the same quarter last year. Equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -2.75 earnings per share for the current fiscal year.
In other AMC Entertainment news, CFO Sean D. Goodman sold 45,405 shares of the business’s stock in a transaction on Monday, August 16th. The shares were sold at an average price of $34.79, for a total transaction of $1,579,639.95. Following the completion of the sale, the chief financial officer now owns 111,300 shares in the company, valued at approximately $3,872,127. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
AMC Entertainment Profile
AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.
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