Tobam boosted its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 50.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 795,791 shares of the company’s stock after acquiring an additional 267,019 shares during the quarter. Tobam owned approximately 0.15% of AMC Entertainment worth $5,547,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its position in AMC Entertainment by 417.6% during the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after purchasing an additional 856 shares during the period. Allworth Financial LP grew its stake in shares of AMC Entertainment by 46.6% during the 2nd quarter. Allworth Financial LP now owns 2,224 shares of the company’s stock worth $30,000 after acquiring an additional 707 shares in the last quarter. Cypress Capital Management LLC WY grew its stake in shares of AMC Entertainment by 31.9% during the 2nd quarter. Cypress Capital Management LLC WY now owns 3,103 shares of the company’s stock worth $42,000 after acquiring an additional 750 shares in the last quarter. Spire Wealth Management grew its stake in shares of AMC Entertainment by 132.4% during the 2nd quarter. Spire Wealth Management now owns 3,397 shares of the company’s stock worth $46,000 after acquiring an additional 1,935 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in shares of AMC Entertainment in the third quarter valued at $60,000. Institutional investors own 26.14% of the company’s stock.
AMC Entertainment Price Performance
Shares of NYSE AMC opened at $5.06 on Friday. AMC Entertainment Holdings, Inc. has a 12-month low of $3.77 and a 12-month high of $34.33. The company’s fifty day simple moving average is $5.83 and its 200 day simple moving average is $6.16.
AMC Entertainment (NYSE:AMC – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.05. The firm had revenue of $968.40 million during the quarter, compared to analysts’ expectations of $967.00 million. As a group, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -0.83 EPS for the current fiscal year.
Analysts Set New Price Targets
AMC has been the subject of several analyst reports. B. Riley decreased their target price on shares of AMC Entertainment from $7.50 to $4.50 and set a “neutral” rating for the company in a research note on Tuesday, January 3rd. StockNews.com assumed coverage on shares of AMC Entertainment in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Citigroup cut their price objective on shares of AMC Entertainment from $1.20 to $1.10 in a report on Friday, November 25th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $3.12.
Insider Buying and Selling
In other AMC Entertainment news, CFO Sean D. Goodman sold 80,750 shares of the stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $4.68, for a total transaction of $377,910.00. Following the completion of the transaction, the chief financial officer now owns 4,420 shares in the company, valued at $20,685.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.
AMC Entertainment Company Profile
AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.
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