Northern Trust Corp Boosts Stake in AMC Entertainment Holdings, Inc. $AMC

Key Points

• Northern Trust Corp increased its stake in AMC Entertainment Holdings by 6.7% during the first quarter, owning approximately 3.54 million shares valued at over $10 million.
• AMC Entertainment's shares opened at $2.74, with a market cap of $1.40 billion and a price-to-earnings ratio of -3.07.
• Recent analyst reports show mixed ratings, with one upgrade to "outperform" from Wedbush and a consensus rating of "Hold" with a price target of $3.33.

Northern Trust Corp grew its stake in AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) by 6.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,540,656 shares of the company's stock after purchasing an additional 222,375 shares during the quarter. Northern Trust Corp owned about 0.82% of AMC Entertainment worth $10,162,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Strategies LLC bought a new position in AMC Entertainment in the 1st quarter worth $29,000. Ground Swell Capital LLC bought a new stake in shares of AMC Entertainment during the first quarter valued at approximately $30,000. Sowell Financial Services LLC bought a new stake in shares of AMC Entertainment during the first quarter valued at approximately $36,000. Abacus Planning Group Inc. bought a new stake in shares of AMC Entertainment during the first quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of AMC Entertainment during the first quarter valued at approximately $50,000. 28.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AMC shares. Wedbush upgraded shares of AMC Entertainment from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $3.00 to $4.00 in a research note on Friday, July 11th. Citigroup increased their price target on shares of AMC Entertainment from $2.60 to $2.70 and gave the stock a "sell" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of AMC Entertainment from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, B. Riley started coverage on shares of AMC Entertainment in a research note on Friday, May 16th. They issued a "neutral" rating and a $3.00 price target for the company. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AMC Entertainment presently has an average rating of "Hold" and a consensus target price of $3.33.

AMC Entertainment Trading Up 1.1%

NYSE:AMC traded up $0.03 on Thursday, reaching $2.79. 13,294,616 shares of the stock traded hands, compared to its average volume of 8,466,142. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.13 and a beta of 1.35. AMC Entertainment Holdings, Inc. has a 12 month low of $2.45 and a 12 month high of $5.56. The company's fifty day simple moving average is $2.99 and its 200 day simple moving average is $2.99.

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.