AMC Entertainment Holdings Inc [AMC] 10% Owner makes an insider purchase of 7,993,400 shares worth 13.82 million.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. AMC Entertainment Holdings Inc shares valued at $13,815,317 were sold by Antara Capital LP on Jun 28. At $1.73 per share, Antara Capital LP sold 7,993,400 shares. The insider’s holdings dropped to 93,911,906 shares worth approximately $380.34 million following the completion of this transaction.

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Also, Antara Capital LP sold 3,573,030 shares, netting a total of over 6,395,362 in proceeds. Following the sale of shares at $1.79 each, the insider now holds 101,905,306 shares.

Before that, Antara Capital LP had sold 2,371,887 shares from its account. In a trade valued at $4,245,678, the 10% Owner traded AMC Entertainment Holdings Inc shares for $1.79 each. Upon closing the transaction, the insider’s holdings decreased to 2,371,887 shares, worth approximately $427.19 million.

As published in a research note from Citigroup on September 26, 2023, AMC Entertainment Holdings Inc [AMC] has been retained to a Sell and the price target has been revised to $4.75.

Analyzing AMC Stock Performance

During the last five days, there has been a drop of approximately -1.94%. Over the course of the year, AMC Entertainment Holdings Inc shares have dropped approximately -33.82%. Shares of the company reached a 52-week high of $6.33 on 01/02/24 and a 52-week low of $3.98 on 01/29/24. A 50-day SMA is recorded $5.84, while a 200-day SMA reached $25.47. Nevertheless, trading volume fell to 14.25 million shares from 8.87 million shares the previous day.

Support And Resistance Levels for AMC Entertainment Holdings Inc (AMC)

According to the 24-hour chart, there is a support level at 3.94, which, if violated, would cause prices to drop to 3.84. In the upper region, resistance lies at 4.24. The next price resistance is at 4.43. RSI (Relative Strength Index) is 28.07 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 92.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is AMC Entertainment Holdings Inc subject to short interest?

Stocks of AMC Entertainment Holdings Inc saw a sharp rise in short interest on Jan 11, 2024 jumping by 5.8 million shares to 24.1 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 18.3 million shares. A jump of 24.07% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.24 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.24.

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