Short Interest in AMC Entertainment Holdings, Inc. (NYSE:AMC) Decreases By 40.4%

Key Points

• AMC’s short interest fell sharply in mid-May, dropping 40.4% to 63.3 million shares, or about 10.4% of float. The days-to-cover ratio is now 2.2 days based on recent trading volume.
• CEO Adam Aron bought 250,000 shares at an average price of $1.38, increasing his ownership by 11.43%. The purchase was disclosed in an SEC filing and signals insider confidence.
• Recent theater attendance has improved materially, with AMC reporting 25.5 million guests in May, its strongest May since 2019. The upbeat box office trend has helped boost sentiment around the stock, though the company still reported a quarterly earnings miss.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 63,294,412 shares, a drop of 40.4% from the April 30th total of 106,232,769 shares. Approximately 10.4% of the company's shares are short sold. Based on an average daily volume of 28,248,546 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity

In other AMC Entertainment news, CEO Adam M. Aron bought 250,000 shares of AMC Entertainment stock in a transaction dated Tuesday, May 19th. The shares were bought at an average price of $1.38 per share, with a total value of $345,000.00. Following the purchase, the chief executive officer owned 2,437,020 shares of the company's stock, valued at $3,363,087.60. This trade represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.43% of the company's stock.

Institutional Trading of AMC Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in AMC Entertainment by 761.8% in the third quarter. Jones Financial Companies Lllp now owns 8,480 shares of the company's stock valued at $25,000 after purchasing an additional 7,496 shares in the last quarter. Triumph Capital Management grew its position in AMC Entertainment by 139.0% in the fourth quarter. Triumph Capital Management now owns 19,000 shares of the company's stock valued at $30,000 after purchasing an additional 11,050 shares in the last quarter. Royal Bank of Canada grew its position in AMC Entertainment by 90.7% in 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. Pitcairn Co. acquired a new position in shares of AMC Entertainment during the 2nd quarter worth about $34,000. Finally, Powell Investment Advisors LLC bought a new position in shares of AMC Entertainment in the 4th quarter valued at about $39,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about AMC Entertainment

Here are the key news stories impacting AMC Entertainment this week:

• Positive Sentiment: AMC said May attendance reached 25.5 million guests across its AMC Theatres and ODEON locations, marking the strongest May since 2019 and signaling improving demand for movie theaters. AMC Entertainment Records Its Highest Domestic and Global May Attendance Since 2019
• Positive Sentiment: Recent blockbuster sequels and horror titles helped drive bigger crowds, suggesting the company may be benefiting from a healthier box office environment. AMC Stock Pops as Blockbuster Sequels and Horror Hits Drive Big Attendance Numbers
• Positive Sentiment: Analysts said domestic box office performance in May came in stronger than expected, which could support continued momentum for AMC’s theater traffic in June and beyond. Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says
• Neutral Sentiment: Coverage notes that AMC’s stock has surged on the attendance news, but the move is being driven mainly by sentiment around theater demand rather than any new financial guidance or earnings update. Stock Market Today, June 1: AMC Entertainment Surges After Reporting 25.5 Million May Moviegoers

AMC Entertainment Stock Performance

Shares of AMC stock opened at $2.11 on Tuesday. The company has a market capitalization of $1.29 billion, a P/E ratio of -1.99 and a beta of 2.14. The company's 50 day moving average price is $1.42 and its two-hundred day moving average price is $1.55. AMC Entertainment has a 52 week low of $0.93 and a 52 week high of $3.60.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced 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 business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $979.19 million. The business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) EPS. Analysts forecast that AMC Entertainment will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

AMC has been the topic of a number of analyst reports. B. Riley Financial reiterated a "neutral" rating on shares of AMC Entertainment in a research report on Friday, April 17th. Wall Street Zen upgraded shares of AMC Entertainment from a "strong sell" rating to a "hold" rating in a research report on Saturday, May 9th. Citigroup increased their price target on shares of AMC Entertainment from $1.10 to $1.20 and gave the company a "sell" rating in a research report on Thursday, May 7th. Roth Mkm set a $1.50 price target on shares of AMC Entertainment in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of AMC Entertainment in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $2.24.

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.

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