The Vanguard Group, Inc. recently announced the acquisition of new stake in AMC Entertainment Holdings Inc (NYSE:AMC). The institutional investor has increased its shareholding in the Communication Services company by 139.13% to 13.47 million shares with purchase of 7.84 million shares. This fresh investment now brings its stake to 6.79% valued currently at $89.57 million. In addition, Marshall Wace LLP raised its holdings by 3.36 million to 3.52 million shares. And BlackRock Fund Advisors has lifted its position by 4.66% or 98364.0 shares – to 2.21 million shares.
With over 15.42 million AMC Entertainment Holdings Inc (AMC) shares trading Friday and a closing price of $6.10 on the day, the dollar volume was approximately $94.08 million. The shares have shown a negative half year performance of -82.85% and its price on 12/22/23 gained nearly 0.49%. Currently, there are 198.36M common shares owned by the public and among those 197.80M shares have been available to trade.
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Insiders at the company have transacted a total of 114 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 4,460,966 shares. Insider sales of the common stock occurred on 65 occasions, with total insider shares sold totaling 76,049,335 shares.
The top 3 mutual fund holders in AMC Entertainment Holdings Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu. Vanguard Total Stock Market ETF owns 4.96 million shares of the company’s stock, all valued at over $32.98 million. The company bought an additional 6824.0 shares recently to bring their total holdings to about 2.50% of the shares outstanding. Vanguard Small Cap Index Fund bought 12587.0 shares to see its total holdings expand to 4.1 million shares valued at over $27.25 million and representing 2.07% of the shares outstanding. Vanguard Small Cap Value Index Fu sold 11070.0 shares to bring its total holdings to over 2.85 million shares at a value of $18.94 million. Vanguard Small Cap Value Index Fu now owns shares totaling to 1.44% of the shares outstanding.
Shares of AMC Entertainment Holdings Inc (NYSE: AMC) opened at $6.05, down -$0.02 from a prior closing price of $6.07. However, the script later moved the day high at 6.20, up 0.49%. The company’s stock has a 5-day price change of -8.27% and -25.06% over the past three months. AMC shares are trading -83.01% year to date (YTD), with the 12-month market performance down to -86.96% lower. It has a 12-month low price of $5.93 and touched a high of $75.26 over the same period. AMC has an average intraday trading volume of 20.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.20%, -25.36%, and -78.11% respectively.
Institutional ownership of AMC Entertainment Holdings Inc (NYSE: AMC) shares accounts for 20.54% of the company’s 198.36M shares outstanding. Mutual fund holders own 11.52%, while other institutional holders and individual stakeholders account for 9.06% and — respectively.
It has a market capitalization of $1.21B and a beta (3y monthly) value of 1.69. The earnings-per-share (ttm) stands at -$0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.76% over the week and 5.85% over the month.
Analysts forecast that AMC Entertainment Holdings Inc (AMC) will achieve an EPS of -$0.55 for the current quarter, -$0.75 for the next quarter and -$1.7 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.89 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$2.29 a year ago. Earnings per share for the fiscal year are expected to increase by 81.05%, and -6.65% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate AMC Entertainment Holdings Inc (AMC) as a “Hold” at a consensus score of 3.86. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the AMC, a number of firms have released research notes about the stock. Citigroup stated their Sell rating for the stock in a research note on September 26, 2023, with the firm’s price target at $15.50-$4.75.
