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CNNWF

Cineworld Group

$0.00 /

+ (+0.00%)

, AMC

AMC Entertainment

$4.43 /

+0.635 (+16.73%)

14:38
11/24/20
11/24
14:38
11/24/20
14:38

Movie theater stocks spike after Regal's owner Cineworld get $750M lifeline

Shares of movie theater companies like AMC Entertainment (AMC), Cinemark (CNK), and IMAX (IMAX) are moving higher on Tuesday after peer Cineworld (CNNWF), which owns the U.S. Regal cinema chain, secured an additional $750M in financing on Monday to help absorb the damage from COVID-19 closings and restrictions. Cineworld said: "The Group is pleased to announce it has secured significant additional liquidity whilst implementing further operational measures to deliver enhanced profitability over the long term." Cineworld secured a new debt facility of $450M and issuance of equity warrants, in addition to agreeing to the terms and bank covenant waivers until June 2022. Mooky Greidinger, CEO of Cineworld, commented: "The measures we are announcing today deliver over $750M of extra liquidity to support our business. Over the long term, the operational improvements we have put in place since the start of the pandemic will further enhance Cineworld's profitability and resilience. The Group continues to monitor developments in the relevant markets in which we operate and our entire team is focused on managing our cost base. We look forward to resuming our operations and welcoming movie fans around the world back to the big screen." PRICE ACTION: Shares of AMC Entertainment are up 16%, or 60c per share, to $4.42 per share, Cinemark Holdings is up 8%, or $1.20 per share, to $16.85 and IMAX is up about 3%, or 40c, to $16 per share in afternoon trading.

CNNWF

Cineworld Group

$0.00 /

+ (+0.00%)

AMC

AMC Entertainment

$4.43 /

+0.635 (+16.73%)

CNK

Cinemark

$16.88 /

+1.22 (+7.79%)

IMAX

Imax

$15.96 /

+0.475 (+3.07%)

  • 07

    Dec

CNNWF Cineworld Group
$0.00 /

+ (+0.00%)

11/24/20 JPMorgan
Cineworld Group price target raised to 50 GBp from 35 GBp at JPMorgan
10/16/20 HSBC
Cineworld Group downgraded to Hold from Buy at HSBC
10/06/20 JPMorgan
Cineworld Group price target lowered to 35 GBp from 90 GBp at JPMorgan
10/06/20 Jefferies
Cineworld Group price target lowered to 40 GBp from 100 GBp at Jefferies
AMC AMC Entertainment
$4.43 /

+0.635 (+16.73%)

11/03/20 B. Riley Securities
AMC Entertainment price target lowered to $3.50 from $4.50 at B. Riley Securities
10/26/20 Citi
AMC Entertainment price target lowered to $3 from $4 at Citi
10/12/20 B. Riley Securities
AMC Entertainment price target lowered to $4.50 from $5.50 at B. Riley Securities
10/12/20 William Blair
William Blair suspends AMC Entertainment coverage due to uncertainty
CNK Cinemark
$16.88 /

+1.22 (+7.79%)

11/19/20 Loop Capital
Cinemark downgraded to Hold from Buy at Loop Capital
11/19/20 Loop Capital
Cinemark downgraded to Hold from Buy at Loop Capital
11/17/20 B. Riley Securities
Cinemark price target raised to $14 from $11 at B. Riley Securities
11/10/20 Benchmark
Cinemark shares could see 'potentially massive bounce back,' says Benchmark
IMAX Imax
$15.96 /

+0.475 (+3.07%)

10/12/20 B. Riley Securities
Imax price target lowered to $18 from $21 at B. Riley Securities
09/16/20 B. Riley Securities
B. Riley FBR reiterates Buy on Imax with China easing capacity restrictions
09/08/20 B. Riley Securities
IMAX box office for "Tenet' supports positive thesis, says B. Riley FBR
09/04/20 B. Riley Securities
IMAX price target raised to $21 from $18 at B. Riley FBR

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