AMC Entertainment stock price target cut to $21 from $25 at MKM Partners

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AMC receives $45 million in cash from Abry Partners

AMC Entertainment Holdings, Inc. will receive $45 million in cash in a transaction where private equity firm Abry Partners will take a controlling interest in Screenvision Media, in which AMC acquired a stake in 2016. AMC will retain a minority equity position in the privately-held company, which provides on-screen and in-lobby advertising in theaters. Since August, AMC has been monetizing certain assets in an effort to raise $400 million, including selling its stake in Open Road Releasing, LLC, now known as Global Road Entertainment, announcing a sale leaseback agreement for seven of its U.S. theaters and selling 15.8 million shares of National CineMedia, Inc. between September and June. AMC shares have fallen 2.3% in 2018 so far, while the S&P 500 has gained 2.8%.

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