Van ECK Associates Corp Has $1.59 Million Position in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Van ECK Associates Corp increased its stake in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) by 41.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 227,796 shares of the company’s stock after purchasing an additional 66,870 shares during the quarter. Van ECK Associates Corp’s holdings in AMC Entertainment were worth $1,588,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its position in AMC Entertainment by 46.6% during the second quarter. Allworth Financial LP now owns 2,224 shares of the company’s stock worth $30,000 after acquiring an additional 707 shares during the period. Traynor Capital Management Inc. increased its position in AMC Entertainment by 1.7% during the second quarter. Traynor Capital Management Inc. now owns 43,748 shares of the company’s stock worth $592,000 after acquiring an additional 750 shares during the period. Cypress Capital Management LLC WY increased its position in AMC Entertainment by 31.9% during the second quarter. Cypress Capital Management LLC WY now owns 3,103 shares of the company’s stock worth $42,000 after acquiring an additional 750 shares during the period. Covestor Ltd increased its position in AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after acquiring an additional 856 shares during the period. Finally, Wolverine Asset Management LLC increased its position in AMC Entertainment by 2.3% during the second quarter. Wolverine Asset Management LLC now owns 45,171 shares of the company’s stock worth $612,000 after acquiring an additional 1,000 shares during the period. 26.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Sean D. Goodman sold 80,750 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $4.68, for a total value of $377,910.00. Following the sale, the chief financial officer now owns 4,420 shares in the company, valued at approximately $20,685.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AMC shares. StockNews.com started coverage on shares of AMC Entertainment in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. 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. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, AMC Entertainment has an average rating of “Reduce” and a consensus target price of $3.12.

AMC Entertainment Price Performance

AMC opened at $5.06 on Friday. AMC Entertainment Holdings, Inc. has a fifty-two week low of $3.77 and a fifty-two week high of $34.33. The firm’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $6.16. The company has a market capitalization of $2.62 billion, a P/E ratio of -3.69 and a beta of 1.77.

AMC Entertainment (NYSE:AMC – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.05. The firm had revenue of $968.40 million during the quarter, compared to analyst estimates of $967.00 million. On average, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.83 EPS for the current fiscal year.

About AMC Entertainment

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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. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.