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AMC Entertainment Holdings Inc.: Recent Positions of Institutional Holders


In recent developments, trading firm Jane Street Capital and National Bank Financial have demonstrated an increased interest in AMC Entertainment Holdings Inc., as per data obtained from FactSet.

Jane Street Capital Increases Position to Nearly 6.1 Million Shares

FactSet data revealed that Jane Street Capital has raised its position in AMC Entertainment Holdings Inc. to just under 6.1 million shares. During the second quarter, the trading firm acquired over 5.8 million shares, leading to its current ownership of approximately 1.2% of outstanding shares.

National Bank Financial Acquires Over 3.2 Million Shares

Notably, National Bank Financial has also expanded its stake in AMC Entertainment Holdings Inc. The financial institution now holds just over 3.2 million shares, following its acquisition of nearly 3 million shares. Consequently, its ownership stands at slightly above 0.6% of outstanding shares.

Susquehanna Financial Group Reduces Position to Just Over 2.2 Million Shares

In contrast, Susquehanna Financial Group has decreased its position in AMC Entertainment Holdings Inc. The firm sold just over three million shares, leading to its current ownership of slightly above 2.2 million shares, representing approximately 0.4% of outstanding shares.

Vanguard and BlackRock Remain Prominent Institutional Holders

According to FactSet data, The Vanguard Group Inc. remains the top institutional holder of AMC Entertainment Holdings Inc., with a stake accounting for almost 9.6% of outstanding shares. Following closely is BlackRock Fund Advisors, with an ownership of around 3.6% of outstanding shares.

Top Mutual Fund Holders

When it comes to mutual fund holders, the Vanguard Total Stock Market ETF (VTI) takes the lead with just over 3.1% of outstanding shares. Additionally, the Vanguard Small Cap Index Fund holds approximately 2.6% of outstanding shares.

These recent shifts in ownership highlight the evolving landscape of institutional holdings in AMC Entertainment Holdings Inc.

Related: AMC Stock Bounces Back with an 8% Rally Following Approval of Stock-Conversion Plan

AMC Stock Sees Volatile Week

Shares of the movie theater chain and meme stock favorite, AMC, experienced a turbulent week. After the approval of AMC’s revised stock-conversion plan by the Delaware Chancery Court, the stock plummeted more than 35% on Monday. However, it quickly rebounded and began a three-day winning streak on Tuesday. As of Friday, AMC’s stock is down slightly by 0.3%. The company’s AMC Preferred Equity (APE) units also fell by the same percentage on Friday.

The primary objective of AMC’s stock-conversion plan is to reduce its debt burden. Last month, Delaware Chancery Court Judge Morgan Zurn rejected a settlement that would have allowed the conversion to proceed. However, with the court’s recent approval, “AMC should now be able to raise additional equity capital,” according to CEO Adam Aron in a letter to shareholders on Monday. Aron also highlighted how this new access to equity capital could be utilized to strengthen the company’s cash reserves, pay down debts, invest in growth initiatives, boost operating profitability, and pursue potential merger and acquisition opportunities.

Analyst firm Wedbush views the court’s decision as a positive development for AMC. In a note released on Monday, Wedbush analyst Alicia Reese stated that the ruling removes “a significant overhang,” and they anticipate the convergence of AMC and APE shares around $3 as the conversion progresses.

Related: What’s next for AMC after court approval of revised stock-conversion plan?

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