Geode Capital Management LLC Raises Holdings in AMC Entertainment Holdings, Inc. $AMC

Geode Capital Management LLC raised its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 10.6% in the second quarter, Holdings Channel.com reports. The fund owned 10,253,501 shares of the company’s stock after buying an additional 982,532 shares during the quarter. Geode Capital Management LLC’s holdings in AMC Entertainment were worth $31,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of AMC Entertainment by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company’s stock valued at $122,882,000 after purchasing an additional 5,961,337 shares in the last quarter. GMT Capital Corp acquired a new stake in AMC Entertainment during the 1st quarter worth approximately $5,212,000. Nuveen LLC purchased a new position in AMC Entertainment in the first quarter valued at approximately $2,736,000. Graham Capital Management L.P. raised its holdings in AMC Entertainment by 272.7% in the first quarter. Graham Capital Management L.P. now owns 625,783 shares of the company’s stock valued at $1,796,000 after buying an additional 457,856 shares during the period. Finally, Northern Trust Corp lifted its position in AMC Entertainment by 6.7% during the first quarter. Northern Trust Corp now owns 3,540,656 shares of the company’s stock valued at $10,162,000 after buying an additional 222,375 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of AMC Entertainment from $2.70 to $2.30 and set a “sell” rating for the company in a research report on Thursday, November 13th. Zacks Research downgraded AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Wall Street Zen cut AMC Entertainment from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $3.26.

AMC Entertainment Stock Performance

Shares of NYSE AMC opened at $2.30 on Friday. AMC Entertainment Holdings, Inc. has a 1 year low of $2.05 and a 1 year high of $5.56. The stock’s 50-day simple moving average is $2.65 and its 200-day simple moving average is $2.91. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -2.58 and a beta of 1.05.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts predict that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current year.

AMC Entertainment Company 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.