The Manufacturers Life Insurance Company Acquires 107,289 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC)

The Manufacturers Life Insurance Company increased its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 246.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 150,743 shares of the company’s stock after purchasing an additional 107,289 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AMC Entertainment were worth $751,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMC. Vanguard Group Inc. increased its position in AMC Entertainment by 22.9% during the first quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after acquiring an additional 4,617,007 shares during the period. Renaissance Technologies LLC raised its stake in AMC Entertainment by 18.2% during the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after acquiring an additional 1,585,430 shares in the last quarter. Marshall Wace LLP bought a new position in shares of AMC Entertainment during the second quarter valued at $6,775,000. SG Americas Securities LLC lifted its holdings in shares of AMC Entertainment by 1,894.0% during the second quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after acquiring an additional 1,064,805 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of AMC Entertainment by 92.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock valued at $5,411,000 after purchasing an additional 522,063 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AMC shares. Macquarie lifted their price target on AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a report on Tuesday, July 9th. Morgan Stanley dropped their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a report on Monday, August 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $5.70.

AMC Entertainment Price Performance

NYSE:AMC opened at $4.12 on Tuesday. AMC Entertainment Holdings, Inc. has a one year low of $2.38 and a one year high of $11.88. The firm’s fifty day moving average price is $4.76 and its two-hundred day moving average price is $4.49. The company has a market cap of $1.22 billion, a P/E ratio of -3.24 and a beta of 1.80.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.43). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. The company’s revenue for the quarter was down 23.1% compared to the same quarter last year. As a group, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -1.34 earnings per share for the current year.

About AMC Entertainment

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.