Franklin Resources Inc. Acquires New Stake in AMC Entertainment Holdings, Inc. (NYSE:AMC)

Franklin Resources Inc. acquired a new position in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 173,093 shares of the company's stock, valued at approximately $788,000.

Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of AMC Entertainment by 153.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company's stock worth $16,860,000 after purchasing an additional 2,243,052 shares in the last quarter. Renaissance Technologies LLC lifted its position in AMC Entertainment by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company's stock worth $51,223,000 after buying an additional 1,585,430 shares during the last quarter. Marshall Wace LLP purchased a new stake in AMC Entertainment in the second quarter worth approximately $6,775,000. State Street Corp boosted its stake in AMC Entertainment by 14.6% in the third quarter. State Street Corp now owns 7,353,442 shares of the company's stock worth $33,458,000 after buying an additional 936,618 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in AMC Entertainment by 12.1% during the third quarter. Geode Capital Management LLC now owns 8,047,182 shares of the company's stock valued at $36,622,000 after acquiring an additional 866,757 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Stock Down 0.7 %

Shares of NYSE:AMC traded down $0.03 during midday trading on Monday, hitting $3.97. 11,146,755 shares of the stock traded hands, compared to its average volume of 24,981,551. The business's 50 day moving average is $4.45 and its two-hundred day moving average is $4.70. The stock has a market capitalization of $1.49 billion, a PE ratio of -2.47 and a beta of 1.85. AMC Entertainment Holdings, Inc. has a one year low of $2.38 and a one year high of $11.88.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company earned ($0.09) EPS. The company's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMC has been the subject of a number of recent research reports. Macquarie restated an "underperform" rating and issued a $4.00 price objective on shares of AMC Entertainment in a report on Wednesday, November 13th. B. Riley lowered their price target on shares of AMC Entertainment from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. StockNews.com raised AMC Entertainment to a "sell" rating in a research note on Tuesday, November 12th. Finally, Benchmark reissued a "hold" rating on shares of AMC Entertainment in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $5.44.

About AMC Entertainment

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.