AMC Entertainment (NYSE:AMC) Shares Gap Down Following Insider Selling

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $49.34, but opened at $47.67. AMC Entertainment shares last traded at $50.60, with a volume of 574,266 shares traded.

Specifically, SVP Daniel E. Ellis sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $9.48, for a total value of $94,800.00. Following the transaction, the senior vice president now owns 81,294 shares in the company, valued at $770,667.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sean D. Goodman sold 45,404 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $9.49, for a total value of $430,883.96. Following the completion of the transaction, the chief financial officer now owns 156,705 shares in the company, valued at approximately $1,487,130.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,980,656 shares of company stock worth $31,905,155. 0.58% of the stock is owned by corporate insiders.

Several equities analysts have recently weighed in on AMC shares. Loop Capital restated a “sell” rating and issued a $1.00 target price on shares of AMC Entertainment in a research report on Wednesday, April 7th. UBS Group started coverage on AMC Entertainment in a research report on Wednesday, March 10th. They set a “sell” rating on the stock. B. Riley downgraded AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, May 26th. Wedbush lifted their price objective on AMC Entertainment from $2.50 to $5.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 9th. Finally, Zacks Investment Research downgraded AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, March 30th. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.33.

The firm has a market cap of $19.27 billion, a P/E ratio of -2.00 and a beta of 1.21. The business’s 50-day simple moving average is $17.81.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, May 5th. The company reported ($1.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.30) by ($0.12). The business had revenue of $148.30 million during the quarter, compared to the consensus estimate of $161.18 million. During the same quarter in the prior year, the company earned ($2.22) EPS. The firm’s revenue for the quarter was down 84.2% on a year-over-year basis. On average, equities research analysts anticipate that AMC Entertainment Holdings, Inc. will post -3.23 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of AMC Entertainment in the fourth quarter valued at $26,000. Lincoln National Corp acquired a new stake in shares of AMC Entertainment in the fourth quarter valued at $27,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of AMC Entertainment in the fourth quarter valued at $27,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of AMC Entertainment by 281.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $30,000 after buying an additional 2,140 shares in the last quarter. Finally, Glassman Wealth Services grew its stake in shares of AMC Entertainment by 207.6% in the first quarter. Glassman Wealth Services now owns 3,156 shares of the company’s stock valued at $32,000 after buying an additional 2,130 shares in the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Company Profile (NYSE:AMC)

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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