Principal Financial Group Inc. Sells 3,661 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC)

Principal Financial Group Inc. trimmed its holdings in AMC Entertainment Holdings, Inc. (NYSE:AMCFree Report) by 13.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,615 shares of the company’s stock after selling 3,661 shares during the quarter. Principal Financial Group Inc.’s holdings in AMC Entertainment were worth $107,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMC. Franklin Resources Inc. purchased a new position in AMC Entertainment during the third quarter valued at $788,000. Sanctuary Advisors LLC bought a new position in shares of AMC Entertainment during the 3rd quarter valued at about $72,000. Virtu Financial LLC purchased a new position in shares of AMC Entertainment during the third quarter valued at about $893,000. Geode Capital Management LLC increased its holdings in shares of AMC Entertainment by 12.1% in the third quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company’s stock worth $36,622,000 after purchasing an additional 866,757 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of AMC Entertainment in the third quarter worth about $484,000. 28.80% of the stock is owned by hedge funds and other institutional investors.

AMC Entertainment Price Performance

NYSE:AMC opened at $4.08 on Wednesday. The company has a 50 day moving average price of $4.41 and a 200-day moving average price of $4.67. AMC Entertainment Holdings, Inc. has a 1-year low of $2.38 and a 1-year high of $11.88. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -2.53 and a beta of 1.92.

AMC Entertainment (NYSE:AMCGet Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. AMC Entertainment’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) EPS. On average, sell-side analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on AMC

AMC Entertainment Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AMC Entertainment (NYSE:AMC)

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