The Manufacturers Life Insurance Company Boosts Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)

The Manufacturers Life Insurance Company raised its position in AMC Entertainment Holdings, Inc. (NYSE:AMC) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,232 shares of the company’s stock after purchasing an additional 25,489 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AMC Entertainment were worth $802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMC. Charles Schwab Investment Management Inc. grew its stake in AMC Entertainment by 153.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock worth $16,860,000 after acquiring an additional 2,243,052 shares in the last quarter. Renaissance Technologies LLC grew its stake in AMC Entertainment by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after acquiring an additional 1,585,430 shares in the last quarter. Marshall Wace LLP bought a new position in AMC Entertainment in the 2nd quarter worth about $6,775,000. Bank of New York Mellon Corp grew its stake in AMC Entertainment by 92.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock worth $5,411,000 after acquiring an additional 522,063 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in AMC Entertainment by 150.3% in the 2nd quarter. Rhumbline Advisers now owns 437,501 shares of the company’s stock worth $2,179,000 after acquiring an additional 262,701 shares in the last quarter. 28.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMC shares. Macquarie reiterated an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research note on Wednesday, November 13th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. B. Riley reduced their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Benchmark reissued a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $5.44.

AMC Entertainment Stock Performance

AMC opened at $4.32 on Friday. AMC Entertainment Holdings, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $11.88. The company has a fifty day moving average of $4.48 and a two-hundred day moving average of $4.77. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.68 and a beta of 1.85.

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