Insider Buying: AMC Entertainment (NYSE:AMC) CEO Acquires 250,000 Shares of Stock

AMC Entertainment Holdings, Inc. (NYSE:AMC) CEO Adam Aron purchased 250,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was acquired at an average cost of $1.38 per share, for a total transaction of $345,000.00. Following the transaction, the chief executive officer owned 2,437,020 shares of the company’s stock, valued at approximately $3,363,087.60. This trade represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

AMC Entertainment Trading Up 0.4%

Shares of NYSE AMC traded up $0.01 during midday trading on Tuesday, hitting $1.37. The company’s stock had a trading volume of 20,426,190 shares, compared to its average volume of 34,565,367. The stock has a fifty day moving average price of $1.32 and a 200 day moving average price of $1.62. AMC Entertainment Holdings, Inc. has a one year low of $0.93 and a one year high of $4.08. The firm has a market capitalization of $835.48 million, a price-to-earnings ratio of -1.29 and a beta of 2.14.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $979.19 million. During the same quarter in the prior year, the business posted ($0.58) earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts predict that AMC Entertainment Holdings, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMC has been the subject of a number of research reports. B. Riley Financial reissued a “neutral” rating on shares of AMC Entertainment in a research note on Friday, April 17th. Citigroup upped their price objective on shares of AMC Entertainment from $1.10 to $1.20 and gave the company a “sell” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research note on Monday, April 20th. Benchmark raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.24.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in AMC Entertainment by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 50,119,260 shares of the company’s stock worth $145,346,000 after purchasing an additional 5,793,996 shares in the last quarter. UBS Group AG increased its stake in shares of AMC Entertainment by 4,537.9% in the 3rd quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after acquiring an additional 22,694,842 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AMC Entertainment by 9.2% in the 4th quarter. Geode Capital Management LLC now owns 12,254,550 shares of the company’s stock worth $19,121,000 after acquiring an additional 1,029,668 shares in the last quarter. State Street Corp increased its stake in shares of AMC Entertainment by 12.7% in the 4th quarter. State Street Corp now owns 11,349,046 shares of the company’s stock worth $17,705,000 after acquiring an additional 1,278,974 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of AMC Entertainment by 20.6% in the 4th quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company’s stock worth $12,495,000 after acquiring an additional 1,369,000 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.