Insider Sale: AMC Entertainment Holdings, Inc. (NYSE: AMC) CFO Sells 80,750 Shares

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) Chief Financial Officer Sean D. Goodman sold 80,750 shares of the company in a trade dated Wednesday, January 11. The shares were sold at an average price of $4.68, for a total transaction of $377,910.00. Following the completion of the sale, the CFO now directly owns 4,420 shares of the company, valued at approximately $20,685.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website.

AMC Entertainment trades up 0.8%

AMC shares were up $0.04 midday Friday, hitting $5.06. The stock recorded a trading volume of 25,424,451 shares, compared to an average volume of 24,387,518 shares. AMC Entertainment Holdings, Inc. has a one-year low of $3.77 and a one-year high of $34.33. The company has a market capitalization of $2.62 billion, a PE ratio of -3.59 and a beta of 1.77. The company has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.13.

AMC Entertainment (NYSE:AMC – Get Rating) last released quarterly earnings data on Tuesday, November 8. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.25) by $0.05. The company posted revenue of $968.40 million in the quarter, versus analyst estimates of $967.00 million. As a group, research analysts expect AMC Entertainment Holdings, Inc. to post -0.83 EPS for the current fiscal year.

Analysts set new price targets

Several equity research analysts have recently weighed in on AMC shares. B. Riley lowered his price target on AMC Entertainment from $7.50 to $4.50 and set a “neutral” rating on the stock in a Tuesday, Jan. 3 research note. Citigroup lowered its price target on AMC Entertainment shares from $1.20 to $1.10 in a Friday, November 25 research report. Finally, StockNews.com began covering AMC Entertainment stocks in a research note on Wednesday, October 12. They issued a “sell” rating on the stock. Three equity research analysts gave the stock a sell rating and two gave the company’s stock a hold rating. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $3.12.

Hedge funds weigh on AMC Entertainment

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in AMC Entertainment shares by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 1,729,053 shares of the company worth $12,052,000 after buying 11,045 additional shares in the last quarter. Toroso Investments LLC increased its holdings of AMC Entertainment shares by 52.4% during the third quarter. Toroso Investments LLC now owns 96,414 shares of the company worth $672,000 after acquiring an additional 33,144 shares during the period. Balyasny Asset Management LLC increased its position in AMC Entertainment shares by 442.0% in the third quarter. Balyasny Asset Management LLC now owns 385,651 shares of the company valued at $2,688,000 after purchasing an additional 314,499 shares in the last quarter. Neuberger Berman Group LLC increased its stake in AMC Entertainment shares by 12.9% during the third quarter. Neuberger Berman Group LLC now owns 11,944 shares of the company worth $83,000 after purchasing an additional 1,366 shares during the period. Finally, State Street Corp increased its stake in AMC Entertainment by 0.4% in the third quarter. State Street Corp now owns 10,304,183 shares of the company worth $71,820,000 after purchasing an additional 41,078 shares in the last quarter. 26.14% of the stock is held by institutional investors.

About AMC Entertainment

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AMC Entertainment Holdings, Inc, through its subsidiaries, is engaged in the theatrical exhibition business. The company owns, operates or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is based in Leawood, Kansas.

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Insider buying and selling by quarter for AMC Entertainment (NYSE:AMC)

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