Quarry LP Buys 15,458 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC)

Quarry LP raised its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 9,601.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,619 shares of the company’s stock after buying an additional 15,458 shares during the period. Quarry LP’s holdings in AMC Entertainment were worth $78,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mayflower Financial Advisors LLC bought a new position in AMC Entertainment in the first quarter valued at $37,000. Skylands Capital LLC bought a new position in shares of AMC Entertainment during the 2nd quarter valued at about $50,000. Powell Investment Advisors LLC purchased a new position in shares of AMC Entertainment during the 1st quarter valued at about $55,000. Principal Financial Group Inc. lifted its position in AMC Entertainment by 50.6% in the 1st quarter. Principal Financial Group Inc. now owns 20,091 shares of the company’s stock worth $75,000 after buying an additional 6,748 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in AMC Entertainment by 47.0% in the second quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock worth $85,000 after buying an additional 5,459 shares in the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Macquarie lifted their price target on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 9th. Morgan Stanley decreased their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Monday, August 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $4.00 price objective on shares of AMC Entertainment in a report on Monday, August 5th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $5.70.

AMC Entertainment Trading Down 0.7 %

Shares of NYSE:AMC opened at $4.37 on Thursday. The company has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.49. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -3.44 and a beta of 1.81. AMC Entertainment Holdings, Inc. has a 12 month low of $2.38 and a 12 month high of $11.88.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) EPS for the quarter, meeting analysts’ consensus estimates of ($0.43). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. As a group, research analysts forecast that AMC Entertainment Holdings, Inc. will post -1.36 EPS for the current fiscal year.

AMC Entertainment Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.