AMC Entertainment Holdings Inc’s recent filing unveils that its 10% Owner Antara Capital LP unloaded Company’s shares for reported $13.82 million on Jun 28 ’23. In the deal valued at $1.73 per share,7,993,400 shares were sold. As a result of this transaction, Antara Capital LP now holds 93,911,906 shares worth roughly $490.22 million.
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Then, Antara Capital LP sold 3,573,030 shares, generating $6,395,362 in total proceeds. Upon selling the shares at $1.79, the 10% Owner now owns 101,905,306 shares.
Before that, Antara Capital LP sold 2,371,887 shares. AMC Entertainment Holdings Inc shares valued at $4,245,678 were divested by the 10% Owner at a price of $1.79 per share. As a result of the transaction, Antara Capital LP now holds 105,478,336 shares, worth roughly $550.6 million.
B. Riley Securities reiterated its AMC Entertainment Holdings Inc [AMC] rating to a Neutral in a research note published on February 29, 2024; the price target was $8. A number of analysts have revised their coverage, including Citigroup’s analysts, who remained covering the stock and in late September has reiterated a ‘”a Sell”‘ rating for it. Wedbush also remained covering AMC and has increased its forecast on August 24, 2023 with a “Neutral” recommendation from previously “an Underperform” rating.
Price Performance Review of AMC
On Tuesday, AMC Entertainment Holdings Inc [NYSE:AMC] saw its stock jump 10.83% to $5.22. Over the last five days, the stock has gained 8.98%. AMC Entertainment Holdings Inc shares have fallen nearly -14.71% since the year began. Nevertheless, the stocks have fallen -87.60% over the past one year. While a 52-week high of $54.97 was reached on 05/14/24, a 52-week low of $2.38 was recorded on 04/16/24. SMA at 50 days reached $3.84, while 200 days put it at $6.04. A total of 62.73 million shares were traded, compared to the trading of 30.73 million shares in the previous session.
Levels Of Support And Resistance For AMC Stock
The 24-hour chart illustrates a support level at 4.74, which if violated will result in even more drops to 4.25. On the upside, there is a resistance level at 5.60. A further resistance level may holdings at 5.98. The Relative Strength Index (RSI) on the 14-day chart is 56.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 39.78%. Stochastics %K at 45.52% indicates the stock is a holding.
The most recent change occurred on January 03, 2023 when B. Riley Securities resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $4.50.
