AMC Entertainment (NYSE:AMC) Shares Gap Up on Insider Buying Activity

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $1.36, but opened at $1.45. AMC Entertainment shares last traded at $1.5110, with a volume of 5,585,976 shares.

Specifically, CEO Adam M. Aron purchased 250,000 shares of AMC Entertainment stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 directly owned 2,437,020 shares in the company, valued at $3,363,087.60. The trade was a 11.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (e+)” rating on shares of AMC Entertainment in a report on Monday, April 20th. Citigroup upped their price target on shares of AMC Entertainment from $1.10 to $1.20 and gave the company a “sell” rating in a report on Thursday, May 7th. Roth Mkm set a $1.50 price target on shares of AMC Entertainment in a research report on Tuesday. Finally, Benchmark raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.24.

AMC Entertainment Stock Performance

The firm has a market capitalization of $933.41 million, a PE ratio of -1.42 and a beta of 2.14. The stock’s 50-day simple moving average is $1.32 and its 200-day simple moving average is $1.61.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Tuesday, May 5th. The company reported ($0.36) 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 analysts’ expectations of $979.19 million. During the same period last year, the company posted ($0.58) earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. As a group, analysts predict that AMC Entertainment Holdings, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of AMC Entertainment

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of AMC Entertainment by 34.3% in the 1st quarter. Bank of America Corp DE now owns 543,857 shares of the company’s stock worth $533,000 after acquiring an additional 138,853 shares in the last quarter. Royal Bank of Canada boosted its position in shares of AMC Entertainment by 90.7% during the first quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock valued at $33,000 after purchasing an additional 16,011 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in AMC Entertainment in the first quarter worth $73,000. Wealthfront Advisers LLC raised its holdings in AMC Entertainment by 36.8% in the first quarter. Wealthfront Advisers LLC now owns 196,830 shares of the company’s stock worth $193,000 after purchasing an additional 52,902 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in AMC Entertainment by 16.4% in the first quarter. Hsbc Holdings PLC now owns 373,472 shares of the company’s stock worth $376,000 after purchasing an additional 52,501 shares in the last quarter. 28.80% of the stock is owned by institutional investors.

AMC Entertainment Company Profile

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.