AMC Entertainment shares rose 6% in overnight trading amid fresh insider buying.
AMC CEO Scoops Up Shares
AMC CEO Adam Aron disclosed the purchase of 250,000 shares of AMC stock in a Form 4 filing released after the market close on Tuesday.
Aron purchased the shares in multiple transactions on Tuesday at an average price of approximately $1.38 per share. The AMC CEO now owns a total of approximately 2.44 million shares of AMC stock.
Stock purchases from company executives, directors and major shareholders often signal a belief that the company’s share price is undervalued. AMC shares are down approximately 53% over the past year and have fallen more than 20% in just the past month.
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