Amplify Energy (NASDAQ:AMPY) Shares Down 8.2% After Insider Selling

Shares of Amplify Energy Corp (NASDAQ:AMPY) traded down 8.2% on Thursday after an insider sold shares in the company. The stock traded as low as $0.76 and last traded at $0.78. 1,150,306 shares changed hands during trading, an increase of 50% from the average session volume of 769,114 shares. The stock had previously closed at $0.85.

Specifically, Director Fir Tree Capital Management Lp sold 441,883 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $0.97, for a total transaction of $428,626.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.84% of the company’s stock.

Several analysts recently commented on AMPY shares. Zacks Investment Research cut Amplify Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Northland Securities lowered Amplify Energy to a “hold” rating in a report on Thursday, August 6th.

The business’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $32.08 million, a price-to-earnings ratio of 7.91 and a beta of 0.64.

Amplify Energy (NASDAQ:AMPY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.82). The firm had revenue of $35.17 million for the quarter, compared to the consensus estimate of $33.10 million. Amplify Energy had a return on equity of 5.15% and a net margin of 6.27%.

Several institutional investors and hedge funds have recently bought and sold shares of AMPY. Wells Fargo & Company MN increased its position in shares of Amplify Energy by 20.7% in the first quarter. Wells Fargo & Company MN now owns 59,511 shares of the company’s stock valued at $33,000 after acquiring an additional 10,202 shares during the last quarter. Eidelman Virant Capital bought a new stake in Amplify Energy in the second quarter valued at approximately $25,000. Bank of New York Mellon Corp lifted its holdings in Amplify Energy by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 723,238 shares of the company’s stock valued at $409,000 after purchasing an additional 20,438 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Amplify Energy by 86.5% during the 1st quarter. Nuveen Asset Management LLC now owns 82,552 shares of the company’s stock worth $47,000 after buying an additional 38,293 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Amplify Energy during the second quarter worth approximately $49,000. 0.27% of the stock is currently owned by institutional investors.

About Amplify Energy (NASDAQ:AMPY)

Amplify Energy Corp. engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and South Texas.

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