AMC Entertainment Holdings Inc (NYSE:AMC) shares are moving higher in Tuesday’s after-hours session amid fresh insider buying.
- AMC Entertainment Hldgs stock is among today’s top performers. Why is AMC stock surging?
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.
AMC Price Action: AMC shares closed Tuesday up 0.74%. The stock was up another 6.18% in after-hours, trading at $1.46 at the time of publication, according to Benzinga Pro.
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