AMC Entertainment Holdings, Inc. (NYSE:AMC) Short Interest Update


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AMC Entertainment Holdings, Inc. (NYSE:AMC) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 73,820,000 shares, an increase of 49.7% from the March 15th total of 49,310,000 shares. Based on an average daily volume of 169,150,000 shares, the short-interest ratio is presently 0.4 days.

In other news, Director Lake Group L.L.C. Silver sold 33,317,145 shares of the company’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $16.05, for a total value of $534,740,177.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean D. Goodman sold 45,404 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 156,705 shares of the company’s stock, valued at $1,487,130.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,172,784 shares of company stock worth $590,024,146. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in AMC Entertainment during the 4th quarter worth approximately $26,000. Lincoln National Corp acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $27,000. ProShare Advisors LLC acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $36,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $40,000. 16.61% of the stock is owned by hedge funds and other institutional investors.

NYSE:AMC traded down $0.57 during trading hours on Friday, reaching $9.33. 40,608,953 shares of the stock were exchanged, compared to its average volume of 158,606,688. AMC Entertainment has a twelve month low of $1.91 and a twelve month high of $20.36. The firm has a 50 day moving average of $10.17 and a 200 day moving average of $5.61. The stock has a market cap of $4.20 billion, a PE ratio of -0.27 and a beta of 2.48.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Tuesday, March 9th. The company reported ($3.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.80) by ($0.35). The business had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $141.31 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue was down 88.8% on a year-over-year basis. Analysts forecast that AMC Entertainment will post -16.59 EPS for the current year.

A number of analysts have recently commented on AMC shares. MKM Partners cut AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price target for the company. in a research note on Monday, February 1st. Loop Capital reaffirmed a “sell” rating and issued a $1.00 price target on shares of AMC Entertainment in a research note on Wednesday, April 7th. UBS Group initiated coverage on AMC Entertainment in a research note on Wednesday, March 10th. They issued a “sell” rating for the company. B. Riley raised AMC Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $13.00 in a research note on Monday, April 5th. Finally, Wedbush increased their target price on AMC Entertainment from $2.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 9th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.00.

AMC Entertainment Company Profile

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 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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