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

AMC Entertainment Holdings, Inc. (NYSE:AMC) gapped up before the market opened 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 changing hands.

Specifically, CEO Adam M. Aron purchased 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average cost of $1.38 per share, for a total transaction of $345,000.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMC shares. Roth Mkm set a $1.50 price objective on shares of AMC Entertainment in a report on Tuesday. Benchmark raised AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Wednesday, May 6th. B. Riley Financial restated a “neutral” rating on shares of AMC Entertainment in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research report on Monday, April 20th. Finally, Citigroup boosted their target price on AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.24.

AMC Entertainment Stock Up 12.1%

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

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data 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 company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $979.19 million. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.58) earnings per share. On average, equities research analysts expect that AMC Entertainment Holdings, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Several institutional investors have recently modified their holdings of AMC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AMC Entertainment by 21.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 240,255 shares of the company’s stock valued at $690,000 after acquiring an additional 41,860 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AMC Entertainment by 30.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 710,181 shares of the company’s stock worth $2,038,000 after acquiring an additional 164,740 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AMC Entertainment by 19.8% during the second quarter. JPMorgan Chase & Co. now owns 1,820,405 shares of the company’s stock valued at $5,643,000 after purchasing an additional 300,376 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of AMC Entertainment by 89.6% during the second quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock valued at $173,000 after purchasing an additional 26,310 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in AMC Entertainment by 9.2% during the second quarter. Hsbc Holdings PLC now owns 102,506 shares of the company’s stock valued at $315,000 after purchasing an additional 8,629 shares during the period. 28.80% of the stock is owned by hedge funds and other 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.