Geode Capital Management LLC Increases Stock Position in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Geode Capital Management LLC lifted its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 12.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,047,182 shares of the company’s stock after purchasing an additional 866,757 shares during the period. Geode Capital Management LLC’s holdings in AMC Entertainment were worth $36,622,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in AMC Entertainment by 92.5% during 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 buying an additional 522,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in AMC Entertainment by 14.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock valued at $230,000 after purchasing an additional 5,902 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in AMC Entertainment by 35.8% in the 2nd quarter. Principal Financial Group Inc. now owns 27,276 shares of the company’s stock valued at $136,000 after purchasing an additional 7,185 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of AMC Entertainment by 243.4% during the second quarter. Commonwealth Equity Services LLC now owns 56,911 shares of the company’s stock worth $283,000 after buying an additional 40,336 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its position in shares of AMC Entertainment by 47.0% in the second quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock valued at $85,000 after buying an additional 5,459 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Macquarie restated an “underperform” rating and set a $4.00 target price on shares of AMC Entertainment in a research report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research report on Thursday, November 7th. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research note on Tuesday, November 12th. Finally, B. Riley lowered their price target on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Trading Down 1.5 %

Shares of AMC Entertainment stock opened at $4.06 on Wednesday. The business’s fifty day moving average price is $4.47 and its 200 day moving average price is $4.74. AMC Entertainment Holdings, Inc. has a twelve month low of $2.38 and a twelve month high of $11.88. The stock has a market capitalization of $1.53 billion, a P/E ratio of -2.52 and a beta of 1.85.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that AMC Entertainment Holdings, Inc. will post -1.41 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.