AMC Entertainment Holdings, Inc. (NYSE:AMC) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,615 shares of the company’s stock after selling 3,661 shares during the period. Principal Financial Group Inc.’s holdings in AMC Entertainment were worth $107,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMC shares. Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. B. Riley decreased their price target on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Morgan Stanley dropped their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. StockNews.com raised AMC Entertainment to a “sell” rating in a research note on Tuesday, November 12th. Finally, Wedbush reissued a “neutral” rating and issued a $4.00 price target on shares of AMC Entertainment in a report on Monday, August 5th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, AMC Entertainment currently has an average rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Stock Down 1.3 %

AMC stock opened at $4.80 on Wednesday. The company has a 50 day moving average of $4.43 and a two-hundred day moving average of $4.78. AMC Entertainment Holdings, Inc. has a 12-month low of $2.38 and a 12-month high of $11.88. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -3.02 and a beta of 1.83.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business posted ($0.09) earnings per share. AMC Entertainment’s revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.42 EPS for the current 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.