Graham Capital Management L.P. Purchases 457,856 Shares of AMC Entertainment Holdings, Inc. $AMC

Key Points

• Graham Capital Management L.P. significantly increased its stake in AMC Entertainment by 272.7%, acquiring an additional 457,856 shares, bringing its total ownership to 625,783 shares valued at approximately $1.8 million.
• AMC Entertainment's stock has seen a slight decline, down 0.7%, with current trading at $2.81 and a market capitalization of $1.44 billion.
• Wall Street ratings for AMC vary, with one analyst giving a Buy rating, five a Hold, and one a Sell, leading to a consensus target price of $3.33.

Graham Capital Management L.P. lifted its position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) by 272.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 625,783 shares of the company's stock after buying an additional 457,856 shares during the period. Graham Capital Management L.P. owned about 0.14% of AMC Entertainment worth $1,796,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in AMC Entertainment by 15.7% in the fourth quarter. Tidal Investments LLC now owns 28,581 shares of the company's stock worth $114,000 after purchasing an additional 3,885 shares during the last quarter. Mackenzie Financial Corp lifted its stake in AMC Entertainment by 24.3% in the first quarter. Mackenzie Financial Corp now owns 22,517 shares of the company's stock worth $65,000 after purchasing an additional 4,400 shares during the last quarter. Avantax Advisory Services Inc. grew its position in AMC Entertainment by 5.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company's stock worth $252,000 after acquiring an additional 4,551 shares during the last quarter. Victory Capital Management Inc. grew its position in AMC Entertainment by 10.1% during the 1st quarter. Victory Capital Management Inc. now owns 51,805 shares of the company's stock worth $149,000 after acquiring an additional 4,756 shares during the last quarter. Finally, Xponance Inc. grew its position in AMC Entertainment by 21.8% during the 1st quarter. Xponance Inc. now owns 30,383 shares of the company's stock worth $87,000 after acquiring an additional 5,446 shares during the last quarter. 28.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMC has been the topic of several recent research reports. Citigroup raised their price target on AMC Entertainment from $2.60 to $2.70 and gave the stock a "sell" rating in a research report on Tuesday, August 19th. B. Riley initiated coverage on AMC Entertainment in a research report on Friday, May 16th. They set a "neutral" rating and a $3.00 price target on the stock. Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $3.00 to $4.00 in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded AMC Entertainment from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $3.33.

AMC Entertainment Trading Up 0.6%

NYSE AMC traded up $0.02 on Friday, hitting $2.74. The company's stock had a trading volume of 10,559,417 shares, compared to its average volume of 11,104,867. AMC Entertainment Holdings, Inc. has a 52-week low of $2.45 and a 52-week high of $5.56. The firm has a market cap of $1.40 billion, a P/E ratio of -3.07 and a beta of 1.35. The company's 50-day simple moving average is $3.00 and its 200 day simple moving average is $3.00.

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.