Cadian Capital Management LP Makes New Investment in AMC Entertainment Holdings, Inc. (NYSE:AMC)
Cadian Capital Management LP purchased a new position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,763,000 shares of the company’s stock, valued at approximately $7,757,000. AMC Entertainment makes up about 0.4% of Cadian Capital Management LP’s holdings, making the stock its 22nd biggest position. Cadian Capital Management LP owned about 0.34% of AMC Entertainment as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Covestor Ltd grew its stake in shares of AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of AMC Entertainment by 12.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 11,944 shares of the company’s stock worth $83,000 after purchasing an additional 1,366 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of AMC Entertainment by 16.1% in the 3rd quarter. Guggenheim Capital LLC now owns 15,422 shares of the company’s stock worth $107,000 after purchasing an additional 2,134 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of AMC Entertainment by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 51,374 shares of the company’s stock worth $257,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Creative Planning grew its stake in shares of AMC Entertainment by 22.1% in the 4th quarter. Creative Planning now owns 13,534 shares of the company’s stock worth $55,000 after purchasing an additional 2,450 shares during the last quarter. 28.79% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AMC. Credit Suisse Group dropped their target price on shares of AMC Entertainment from $8.38 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, September 1st. StockNews.com began coverage on shares of AMC Entertainment in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Roth Mkm lifted their target price on shares of AMC Entertainment to $5.00 and gave the stock a “sell” rating in a research report on Tuesday, October 17th. B. Riley lowered their price objective on shares of AMC Entertainment from $45.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 3rd. Finally, Citigroup dropped their price objective on shares of AMC Entertainment from $15.50 to $4.75 and set a “sell” rating on the stock in a research note on Tuesday, September 26th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $10.35.
View Our Latest Stock Analysis on AMC
AMC Entertainment Trading Up 1.6 %
Shares of AMC Entertainment stock traded up $0.11 during mid-day trading on Friday, reaching $6.93. 11,951,452 shares of the stock were exchanged, compared to its average volume of 18,665,930. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -1.68 and a beta of 1.70. The firm has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $25.29. AMC Entertainment Holdings, Inc. has a fifty-two week low of $6.52 and a fifty-two week high of $85.30.
AMC Entertainment (NYSE:AMC – Get Free Report) last announced its earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned ($2.00) EPS. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, research analysts predict that AMC Entertainment Holdings, Inc. will post -2.1 EPS for the current fiscal year.
AMC Entertainment Profile (Free Report)
AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.
Further Reading
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