Hsbc Holdings PLC Sells 114,923 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC)

Hsbc Holdings PLC reduced its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 50.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 112,969 shares of the company’s stock after selling 114,923 shares during the quarter. Hsbc Holdings PLC’s holdings in AMC Entertainment were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of AMC Entertainment by 418.4% in the first quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock valued at $64,934,000 after purchasing an additional 2,126,916 shares during the last quarter. Millennium Management LLC increased its holdings in shares of AMC Entertainment by 225.3% in the second quarter. Millennium Management LLC now owns 2,824,206 shares of the company’s stock valued at $38,268,000 after purchasing an additional 1,955,987 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of AMC Entertainment by 1,349.6% in the second quarter. Cubist Systematic Strategies LLC now owns 844,373 shares of the company’s stock valued at $11,441,000 after purchasing an additional 786,124 shares during the last quarter. Barclays PLC increased its holdings in shares of AMC Entertainment by 12,536.3% in the third quarter. Barclays PLC now owns 508,737 shares of the company’s stock valued at $3,547,000 after purchasing an additional 504,711 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of AMC Entertainment by 233.2% in the second quarter. AQR Capital Management LLC now owns 600,890 shares of the company’s stock valued at $7,908,000 after purchasing an additional 420,536 shares during the last quarter. 26.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on AMC shares. Roth Capital reiterated a “sell” rating on shares of AMC Entertainment in a report on Monday, February 13th. B. Riley decreased their price target on shares of AMC Entertainment from $7.50 to $4.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 3rd. Finally, Citigroup decreased their price target on shares of AMC Entertainment from $1.20 to $1.10 in a research note on Friday, November 25th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $3.12.

AMC Entertainment Stock Performance

AMC stock opened at $6.58 on Friday. The company’s 50-day simple moving average is $5.29 and its 200 day simple moving average is $6.52. AMC Entertainment Holdings, Inc. has a 52 week low of $3.77 and a 52 week high of $34.33. The company has a market capitalization of $3.40 billion, a PE ratio of -4.80 and a beta of 1.88.

AMC Entertainment (NYSE:AMC – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $990.90 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned ($0.11) EPS. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts forecast that AMC Entertainment Holdings, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Antara Capital Lp sold 17,557,400 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $2.46, for a total transaction of $43,191,204.00. Following the completion of the sale, the insider now owns 227,232,507 shares of the company’s stock, valued at $558,991,967.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Antara Capital Lp sold 17,557,400 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $2.46, for a total transaction of $43,191,204.00. Following the completion of the sale, the insider now owns 227,232,507 shares of the company’s stock, valued at $558,991,967.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sean D. Goodman sold 80,750 shares of the company’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $4.68, for a total transaction of $377,910.00. Following the sale, the chief financial officer now directly owns 4,420 shares of the company’s stock, valued at approximately $20,685.60. The disclosure for this sale can be found here. Insiders sold 25,323,761 shares of company stock valued at $73,220,670 over the last quarter. 0.30% of the stock is owned by company insiders.

AMC Entertainment Company Profile

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AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the U.S. Markets and International Markets segments. The U.S. Markets segment is involved in owning, leasing, or operating theaters and screens in the U.S. The International Markets segment focuses on owning, leasing, or operating theaters and screens in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, Denmark, and Saudi Arabia.