Creative Planning Buys New Position in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Creative Planning bought a new stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,557 shares of the company’s stock, valued at approximately $48,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in AMC Entertainment by 10.3% during the 2nd quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock valued at $189,000 after buying an additional 3,553 shares in the last quarter. Waldron Private Wealth LLC increased its position in AMC Entertainment by 47.0% during the 2nd 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in AMC Entertainment by 14.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock valued at $230,000 after buying an additional 5,902 shares in the last quarter. Wolverine Asset Management LLC grew its stake in AMC Entertainment by 17.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 45,066 shares of the company’s stock valued at $224,000 after purchasing an additional 6,555 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in AMC Entertainment by 35.8% during 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 during the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Trading Up 0.3 %

Shares of AMC stock opened at $4.58 on Thursday. The company has a market capitalization of $1.65 billion, a P/E ratio of -2.84 and a beta of 1.83. The business’s 50 day moving average is $4.49 and its two-hundred day moving average is $4.69. AMC Entertainment Holdings, Inc. has a 12-month low of $2.38 and a 12-month high of $11.88.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned ($0.09) EPS. AMC Entertainment’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that AMC Entertainment Holdings, Inc. will post -1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMC shares. Wedbush reiterated a “neutral” rating and set a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Morgan Stanley dropped their price target on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Macquarie reiterated an “underperform” rating and set a $4.00 price target on shares of AMC Entertainment in a research note on Wednesday. B. Riley lowered their target price on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com upgraded AMC Entertainment to a “sell” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $5.44.

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.