Hsbc Holdings PLC Boosts Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Hsbc Holdings PLC raised its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 76.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,042 shares of the company’s stock after acquiring an additional 14,334 shares during the quarter. Hsbc Holdings PLC’s holdings in AMC Entertainment were worth $164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMC. Renaissance Technologies LLC boosted its position in AMC Entertainment by 18.2% during the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after purchasing an additional 1,585,430 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of AMC Entertainment in the 2nd quarter worth approximately $379,000. Arizona State Retirement System lifted its position in AMC Entertainment by 35.4% during the second quarter. Arizona State Retirement System now owns 73,797 shares of the company’s stock valued at $368,000 after acquiring an additional 19,284 shares during the last quarter. Victory Capital Management Inc. boosted its stake in AMC Entertainment by 10.3% in the second quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock valued at $189,000 after acquiring an additional 3,553 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in AMC Entertainment by 17.0% in the second quarter. Wolverine Asset Management LLC now owns 45,066 shares of the company’s stock worth $224,000 after purchasing an additional 6,555 shares during the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Macquarie increased their price objective on AMC Entertainment from $3.50 to $4.00 and gave the company an “underperform” rating in a report on Tuesday, July 9th. Wedbush reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of AMC Entertainment in a research report on Monday, August 5th. Morgan Stanley cut their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Finally, Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, AMC Entertainment currently has an average rating of “Reduce” and an average target price of $5.70.

AMC Entertainment Price Performance

NYSE:AMC opened at $4.40 on Friday. The company has a 50 day moving average price of $4.86 and a 200-day moving average price of $4.49. 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 $1.30 billion, a price-to-earnings ratio of -3.46 and a beta of 1.80.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.43). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. AMC Entertainment’s quarterly revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.36 earnings per share for the current fiscal year.

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.