Franklin Resources Inc. Acquires New Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Franklin Resources Inc. acquired a new stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 173,093 shares of the company’s stock, valued at approximately $788,000.

A number of other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp lifted 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 purchasing an additional 522,063 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in AMC Entertainment by 14.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock worth $230,000 after purchasing an additional 5,902 shares during the last quarter. Principal Financial Group Inc. boosted its stake in AMC Entertainment by 35.8% in the second quarter. Principal Financial Group Inc. now owns 27,276 shares of the company’s stock worth $136,000 after buying an additional 7,185 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of AMC Entertainment by 243.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 56,911 shares of the company’s stock valued at $283,000 after purchasing an additional 40,336 shares during the last quarter. Finally, Waldron Private Wealth LLC lifted its stake in shares of AMC Entertainment by 47.0% in the 2nd quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock valued at $85,000 after acquiring an additional 5,459 shares during the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment Trading Down 1.2 %

AMC stock opened at $4.00 on Monday. AMC Entertainment Holdings, Inc. has a 12-month low of $2.38 and a 12-month high of $11.88. The stock’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $4.71. The stock has a market capitalization of $1.50 billion, a PE ratio of -2.48 and a beta of 1.85.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. AMC Entertainment’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts predict that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.