Antara Capital Lp Sells 500,000 Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) Stock

Posted by Erica Schwartz on May 26th, 2023

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) major shareholder Antara Capital Lp sold 500,000 shares of AMC Entertainment stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $1.60, for a total transaction of $800,000.00. Following the completion of the sale, the insider now directly owns 144,702,848 shares in the company, valued at approximately $231,524,556.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Antara Capital Lp also recently made the following trade(s):

On Monday, May 22nd, Antara Capital Lp sold 500,000 shares of AMC Entertainment stock. The shares were sold at an average price of $1.60, for a total transaction of $800,000.00.
On Friday, May 19th, Antara Capital Lp sold 1,000,000 shares of AMC Entertainment stock. The shares were sold at an average price of $1.60, for a total transaction of $1,600,000.00.
On Wednesday, May 17th, Antara Capital Lp sold 426,868 shares of AMC Entertainment stock. The shares were sold at an average price of $1.60, for a total transaction of $682,988.80.
On Monday, May 15th, Antara Capital Lp sold 1,235,947 shares of AMC Entertainment stock. The shares were sold at an average price of $1.62, for a total transaction of $2,002,234.14.
On Tuesday, May 2nd, Antara Capital Lp sold 1,263,420 shares of AMC Entertainment stock. The shares were sold at an average price of $1.51, for a total transaction of $1,907,764.20.
On Monday, April 24th, Antara Capital Lp sold 1,500,000 shares of AMC Entertainment stock. The shares were sold at an average price of $1.54, for a total transaction of $2,310,000.00.
On Friday, April 14th, Antara Capital Lp sold 2,918,400 shares of AMC Entertainment stock. The shares were sold at an average price of $1.66, for a total transaction of $4,844,544.00.
On Wednesday, April 5th, Antara Capital Lp sold 1,008,385 shares of AMC Entertainment stock. The shares were sold at an average price of $1.68, for a total transaction of $1,694,086.80.
On Monday, April 3rd, Antara Capital Lp sold 7,885,000 shares of AMC Entertainment stock. The shares were sold at an average price of $1.98, for a total transaction of $15,612,300.00.
On Wednesday, March 15th, Antara Capital Lp sold 48,000,579 shares of AMC Entertainment stock. The stock was sold at an average price of $1.51, for a total transaction of $72,480,874.29.

AMC Entertainment Price Performance

NYSE AMC traded down $0.06 during trading on Friday, hitting $4.64. 11,627,125 shares of the company’s stock traded hands, compared to its average volume of 31,045,863. The stock has a fifty day moving average of $4.62 and a two-hundred day moving average of $4.76. AMC Entertainment Holdings, Inc. has a 12-month low of $3.77 and a 12-month high of $27.50. The firm has a market cap of $2.41 billion, a P/E ratio of -5.21 and a beta of 1.80.

AMC Entertainment (NYSE:AMC – Get Rating) last posted its quarterly earnings results on Friday, March 31st. The company reported ($0.04) earnings per share (EPS) for the quarter. As a group, analysts expect that AMC Entertainment Holdings, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of AMC Entertainment

Several institutional investors have recently added to or reduced their stakes in AMC. Covestor Ltd raised its stake in shares of AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after acquiring an additional 856 shares during the last quarter. Johnson & White Wealth Management LLC bought a new position in shares of AMC Entertainment during the fourth quarter valued at about $651,000. Machina Capital S.A.S. bought a new position in AMC Entertainment in the first quarter worth about $26,000. Carl Stuart Investment Advisor Inc. bought a new position in AMC Entertainment in the first quarter worth about $1,412,826,000. Finally, Exchange Traded Concepts LLC raised its stake in AMC Entertainment by 41.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,179 shares of the company’s stock worth $25,000 after buying an additional 1,804 shares in the last quarter. 26.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Roth Capital reiterated a “sell” rating on shares of AMC Entertainment in a research report on Monday, February 13th. Citigroup assumed coverage on shares of AMC Entertainment in a research report on Thursday, March 23rd. They issued a “sell” rating and a $1.60 target price for the company. Finally, StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research report on Friday, May 12th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $3.22.

AMC Entertainment Company Profile

(Get Rating)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the U.S. Markets and International Markets segments. The U.S. Markets segment is involved in owning, leasing, or operating theaters and screens in the U.S. The International Markets segment focuses on owning, leasing, or operating theaters and screens in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, Denmark, and Saudi Arabia.