The Vanguard Group, Inc. recently announced the acquisition of new stake in AMC Entertainment Holdings Inc. (NYSE:AMC). The institutional investor has increased its shareholding in the Communication Services company by 3.62% to 48.24 million shares with purchase of 1.69 million shares. This fresh investment now brings its stake to 9.33% valued currently at $321.27 million. In addition, SSgA Funds Management, Inc. raised its holdings by 41078.0 to 10.3 million shares. And Geode Capital Management LLC has lifted its position by 1.61% or 0.11 million shares – to 6.84 million shares.
With over 16.76 million AMC Entertainment Holdings Inc. (AMC) shares trading Monday and a closing price of $7.27 on the day, the dollar volume was approximately $121.86 million. The shares have shown a positive half year performance of 2.20% and its price on 11/21/22 lost nearly -4.22%. Currently, there are 516.82M common shares owned by the public and among those 515.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for AMC have a consensus price objective of $2.69. The analysts have set the share’s price value over the next 12 months at a high of $7.50 and a low of $0.50. The average price target is -170.26% below its recent price level and a downside to the estimated low will see the stock lose -1354.0% over that period. But an upside of 3.07% will see the stock hit the forecast high price target while median target price for the stock is $1.60.
Insiders at the company have transacted a total of 85 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 3,491,277 shares. Insider sales of the common stock occurred on 49 occasions, with total insider shares sold totaling 3,086,423 shares.
The top 3 mutual fund holders in AMC Entertainment Holdings Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu. Vanguard Total Stock Market Index owns 15.56 million shares of the company’s stock, all valued at over $103.66 million. The company bought an additional 45638.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard Small Cap Index Fund bought 0.21 million shares to see its total holdings expand to 13.34 million shares valued at over $88.81 million and representing 2.58% of the shares outstanding. Vanguard Small Cap Value Index Fu bought 0.18 million shares to bring its total holdings to over 9.14 million shares at a value of $60.86 million. Vanguard Small Cap Value Index Fu now owns shares totaling to 1.77% of the shares outstanding.
Shares of AMC Entertainment Holdings Inc. (NYSE: AMC) opened at $7.30, down -$0.29 from a prior closing price of $7.59. However, the script later moved the day high at 7.56, down -4.22%. The company’s stock has a 5-day price change of -0.95% and -23.95% over the past three months. AMC shares are trading -56.49% year to date (YTD), with the 12-month market performance down to -71.04% lower. It has a 12-month low price of $5.05 and touched a high of $26.41 over the same period. AMC has an average intraday trading volume of 30.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.84%, 2.41%, and -21.55% respectively.
Institutional ownership of AMC Entertainment Holdings Inc. (NYSE: AMC) shares accounts for 26.90% of the company’s 516.82M shares outstanding. Mutual fund holders own 15.12%, while other institutional holders and individual stakeholders account for 3.74% and 11.56% respectively.
It has a market capitalization of $3.66B and a beta (3y monthly) value of 1.66. The earnings-per-share (ttm) stands at -$1.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.46% over the week and 9.36% over the month.
Analysts forecast that AMC Entertainment Holdings Inc. (AMC) will achieve an EPS of -$0.24 for the current quarter, -$0.12 for the next quarter and -$0.37 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.31 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.44 a year ago. Earnings per share for the fiscal year are expected to increase by 93.20%, and 66.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate AMC Entertainment Holdings Inc. (AMC) as a “Hold” at a consensus score of 3.90. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 5 rated it as a “Sell.”
Looking at the support for the AMC, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on October 12, 2022, with the firm’s price target at $11-$7.50. Wedbush coverage for the AMC Entertainment Holdings Inc. (AMC) stock in a research note released on November 04, 2021 offered a Underperform rating with a price target of $7.50. Macquarie was of a view on September 01, 2021 that the stock is Underperform, while B. Riley Securities gave the stock Neutral rating on May 26, 2021, issuing a price target of $16. B. Riley Securities on their part issued Buy rating on April 05, 2021.