Director, 10% Owner Gadiyaram Muralikrishna sold 170,000 shares in Helios and Matheson Analytics Inc. (NASDAQ:HMNY) for $2,323,040 in transaction occurred on 2017/11/17. After making this transaction, the Director, 10% Owner owns a direct stake of 2,210,000 shares, worth $23,230, as per the last closing price.
It’s been a rough 2019 for movie theater chains. Ticket sales revenue has fallen 15.8% when pitted against the same first 34 days of last year, according to industry tracker Box Office Mojo. Super Bowl weekend was also a doozy. The roughly $70 million collected in domestic ticket sales makes it the worst Super Bowl weekend showing in 19 years.
Multiplex operators hated Helios and Matheson Analytics’ (NASDAQ: HMNY) MoviePass, claiming that the dirt-cheap subscription service that offered up a screening a day for just $9.95 a month was devaluing the product. The MoviePass model never made financial sense for Helios and Matheson, which has to pay retail price for most of the movie tickets purchased, but it was a mother lode for film buffs that topped 3 million members over the summer.
Once the financing well dried up for Helios and Matheson, it started to curb its service. Subscribers went from watching as many as 31 movies a month to just three — and even catching those flicks became a challenge. Other operators have stepped up to fill the void left behind by the rapidly fading MoviePass, but it’s not the same. Sinemia’s pricing tiers don’t offer the same value proposition. Leading exhibitor AMC Entertainment Holdings (NYSE: AMC) has now topped 500,000 members for its AMC Stubs A-List program, but it caps usage at three films a week at more than double the price point of the original MoviePass plan.
MoviePass did a great job of filling seats at movie theaters a year ago on Helios and Matheson’s dime. That once-gushing spigot is down to a mere trickle now.
HMNY’s 50 day simple moving average (SMA 50) price is $0.02 and its 200-day simple moving average (SMA 200) price is $63.15. The company’s stock currently has a total float of 0 shares. Its weekly volatility is hovering around 20.99% and felt 18.84% volatility in price over a month. On the upside, the share price will test short term resistance at around $0.01. On a downside, the stock is likely to find some support, which begins at $0.01. The failure to get near-term support could push it to $0.01.
It had seen a negative analyst call from Maxim Group, which downgraded the stock from Buy to Hold on July 26. Analysts at Maxim Group, maintained the company shares at Buy on February 28 but switched target price from $25 to $16. Analysts at Canaccord Genuity, made their first call about the stock on February 22, recommending it is Buy. Maxim Group, reiterated their call for Buy, on November 06. On the other hand, they had set new target price to $25 versus $20.
Also, it is trading at rather inexpensive levels at just over 0.07x price/book and 0.09x price/sales. It’s also not liquid in the near term, with a current ratio of 0.7. The stock has a debt/capital of 0.09.