Moviepass majority owner Helios & Matheson's stock surges 14% premarket, after plunging 69% last week
Moviepass majority owner Helios & Matheson's stock surges 14% premarket, after plunging 69% last week
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Moviepass majority owner Helios & Matheson's stock surges 14% premarket, after plunging 69% last week
Shares of Helios & Matheson Analytics Inc. are down 16% in Thursday afternoon trading. The decline comes after the stock fell 31% in Tuesday's session and another 46% in Wednesday trading. Shares are currently trading at their lowest level in 9 1/2 years and if the losses hold, they would close at their second-lowest level since the company went public in August 1997. Helios & Matheson's stock closed at 53 cents on Dec. 19, 2008 and are currently trading at 66 cents. The company, which is the majority owner of MoviePass, issued an update on its cash balance earlier this week. In a filing, Helios & Matheson said it "will need proceeds from sales of our common stock pursuant to our Equity Distribution Agreement with Canaccord Genuity, or other sources of capital, starting in May 2018." Shares are down 91% over the past three months, while the S&P 500 has gained 3%.
Shares of Helios & Matheson Analytics Inc. are down 36% in Wednesday afternoon trading, after falling 31% in Tuesday's session. The company issued a filing early Tuesday that provided an update on its cash position. Helios & Matheson said in the filing that it "will need proceeds from sales of our common stock pursuant to our Equity Distribution Agreement with Canaccord Genuity, or other sources of capital, starting in May 2018." The company is the majority owner of MoviePass, a service that lets users see a movie a day for a low monthly fee. Shares are down 85% so far this year, while the S&P 500 has gained 0.8%.
Shares of Helios and Matheson Analytics Inc. are down 9% in Tuesday morning trading after the company released a filing with a "financial update." Helios and Matheson, which is the majority owner of MoviePass, said in the filing that it had $15.5 million in cash available at the end of April and an additional $27.9 million on deposit. The company said that by the end of April, it had implemented procedures that it believes will curb abuse of the MoviePass program, including technological improvements that will make it harder for subscribers to share their accounts with others as well as a limit that will allow subscribers to see a particular movie only once. However, the company warned that it "will need proceeds from sales of our common stock pursuant to our Equity Distribution Agreement with Canaccord Genuity, or other sources of capital, starting in May 2018." Helios and Matheson also said that if it can't obtain sufficient additional capital, "we may be required to reduce the scope of our planned growth or otherwise alter our business model, objectives and operations, which could harm our business, financial condition and operating results." Shares are down 28% over the past month, while the S&P 500 has gained 2.4%.
Shares of MoviePass majority owner Helios & Matheson Analytics Inc. rose as much as 7.2% intraday Thursday, before pulling back to be up just 0.2% in afternoon trade, after the movie-theater subscription service appeared to give up on its one-movie-a-day offer. MoviePass said on its website that the $9.95-a-month offer includes four movies and an extended, free three-month iHeartRadio All-Access trial. The service said the offer would only be available to new subscribers, who will be billed for a three-month plan at signup, and then be billed quarterly. In March, MoviePass had dropped its monthly price for an annual subscription to $6.95, which allowed subscribers to attend one movie a day. Helios & Matheson's stock has plunged 60.1% in 2018, while the S&P 500 has eased 0.2%.
Shares of MoviePass Inc. majority owner Helios & Matheson Analytics Inc. slumped 1.6% in premarket trade Friday, adding to the 39% plunge they have suffered the past three sessions, as investors continued to come to grips with the disclosure that its auditors had "substantial doubt" about the company's ability to continue. H&M's independent auditors had previously expressed doubt about MoviePass's ability to continue as a going concern. In the annual report filed before Tuesday's open, H&M said it had changed its primary business to the integration and development of MoviePass, and now H&M stated: "Our independent auditors have expressed substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing." H&M said its ability to continue as a going concern "will be determined by out ability to obtain additional funding in the short term," which will enable it to continue to develop its MoviePass business. But the stock's losses accelerated Wednesday with a 33% plummet after H&M announced a public share offering. The stock has tumbled 68.4% over the past three months through Thursday, while the S&P 500 has lost 4.2%.
Shares of MoviePass Inc. majority owner Helios & Matheson Analytics Inc. plummeted 34% in premarket trade Thursday, extending earlier losses, after the company announced the pricing of its $30 million public share offering. The company, which owns 92% of movie-theater subscription service MoviePass, said it sold 10.5 million "Series A-2 units" for $2.75 per unit. The units consist of one share of common stock and warrants to buy common shares. That price was 28% below Wednesday's stock closing price of $3.83. The common shares being sold, before the warrants are exercised, would increase the shares outstanding by 20%. The company said it may use the proceeds from the offering to increase its stake in MoviePass, support MoviePass operations, to satisfy amounts payable in connection with previously issued convertible notes and/or for general corporate purposes. The stock had already plunged 52.6% over the past three months through Wednesday, while the S&P 500 had slipped 3.6%.
Shares of MoviePass majority owner Helios & Matheson Analytics Inc. fell more than 12% late Wednesday after the company said it would sell an unspecified amount of shares in a public offering. Proceeds would be used to increase the company's stake in MoviePass, to support MoviePass operations, or to make acquisitions, among other purposes, the company said. Canaccord Genuity is the deal's sole bookrunner. Earlier this week, Verizon Communications disclosed a large stake in the movie theater-subscription company. Shares of Helios & Matheson ended the regular session down 3.3%.
Shares of MoviePass majority owner Helios & Matheson Analytics Inc. rallied 3.7% in premarket trade, to extend the previous session's surge, which followed Verizon Communications Inc.'s disclosure of a large equity stake. The stock had rallied 6.3% on Friday, after Verizon disclosed in a filing with the Securities and Exchange Commission that it owned 5.10 million Helios & Matheson shares, or 9.3% of the shares outstanding. That would make Verizon the second-largest shareholder, behind Chief Executive Theodore Farnsworth, who owns 10.5% of the shares outstanding, according to FactSet data. Earlier this month, Helios & Matheson had agreed to buy Verizon's Moviefone business for an undisclosed amount. Helios and Matheson's stock closed Friday 25% above the April 3 seven-month closing low of $2.57. It had still plunged 49.1% year to date, while the S&P 500 had slipped 0.7%.
Shares of MoviePass majority owner Helios & Matheson Analytics Inc. are down 8.8% in Tuesday morning trading after the company published a notification of late filing for its annual report. Helios & Matheson didn't file its 10-K on time because it needed "additional time to work internally with its staff and externally with its outside auditors to prepare and finalize the annual report," the company said in a Tuesday filing. Helios & Matheson's 2017 losses were "significantly larger" than its 2016 losses, the company said, due to increased financing costs, the December 2017 acquisition of a majority stake in MoviePass, and the full-year results for Zone Technologies, which the company acquired in late 2016. Shares are down 14% in the past 12 months, compared with a 9.7% gain for the S&P 500 in that time.
Shares of MoviePass parent Helios & Matheson Analytics Inc. are up 12.4% in Tuesday trading after the company announced a deal with Landmark Theatres, a movie chain owned by Todd Wagner and Mark Cuban. Landmark Theatres has 53 theaters and 255 screens nationwide, and is dedicated to independent films. Under the deal, MoviePass members will gain access to e-ticketing and seat selection at Landmark theaters. "Our relationship with Landmark represents another milestone achievement in our journey to enhancing the current movie theater ecosystem," said Bernadette McCabe, a senior vice president with MoviePass, in a release. "It's another step towards educating exhibitors on how we can work together in a mutually beneficial way to create a valuable and cost-effective experience for moviegoers." Helios & Matheson shares are up 26% over the past 12 months, while the S&P 500 is up 14%.
MoviePass is lowering the monthly price of its annual subscription to $6.95 again, the movie-subscription service's majority owner Helios & Matheson Analytics Inc. said Friday. Shares are down 5% in Friday's session. The $6.95 price is available to new subscribers only, Helios & Matheson said in a release. MoviePass gives subscribers the ability to see one new movie a day in theaters for the flat membership fee. The service previously cost $9.95 a month. Helios & Matheson shares are up 17% over the past 12 months, while the S&P 500 is up 13%.
Shares of MoviePass owner Helios & Matheson are down nearly 8%
MoviePass has hired former Viacom Inc. , Spotify and Comcast Corp. executive Mike Berkley to serve as the cinema-going subscription service's chief product officer, according to a Variety report. Representatives for MoviePass and MoviePass owner Helios & Matheson Analytics Inc. were not readily reachable for comment. MoviePass has often struggled to keep up with the rapid growth its experienced since cutting the price of its monthly subscription to $10 from as much as $50 last August. The company has been building out a team to handle the demands of its new prominence, including hiring a chief marketing officer and head of fraud prevention. Berkley said in a statement acquired by Variety that MoviePass is one of the most exciting companies to emerge in the industry in recent years, that it's having the same sort of impact on theatrical exhibition of films that Netflix Inc. has had on TV. Shares of MoviePass owner Helios & Matheson have gained more than 48% in the last 12 months, while the S&P 500 index is up close to 16%.
Helios & Matheson Analytics Inc. said on Friday that it increased it's stake in cinema-going subscription service MoviePass. Helios & Matheson said its total ownership of the outstanding shares of MoviePass's common stock is now equal to 78% of the rapidly growing business. Shares of Helios & Matheson were down more than 7% after announcing the move, but shares are up more than 29% in the last 12 months. By comparison, the S&P 500 index is up 17% and the Dow Jones Industrial Average is up more than 22%.
Helios & Matheson's stock drops 6.6% after disclosing increased ownership of MoviePass
Shares of Dare Bioscience Inc. plummeted 41% toward a record low Tuesday, enough to make them the day's biggest decliners on major U.S. exchanges, after the biopharmaceutical company announced a public stock offering. The second-biggest decliners were shares of Helios & Matheson Analytics Inc. , which plunged 29% after an equity offering. Dare said it was raising $10.25 million with its offering, which included 5.0 million common shares and warrants to buy 3.5 million common shares. That could potentially more than double the number of shares outstanding, which totaled 6.05 million shares as of Nov. 6. Dare's stock has now tumbled 89.3% over the past 12 months, while the S&P 500 has gained 13.5%.
Helios & Matheson Analytics Inc. plans to sell up to $150 million worth of stock and largely pump the money into MoviePass Inc., the fast-growing movie-theater subscription company it bought last year.
Among the companies with shares expected to trade actively in Monday's session are Bank of America, Facebook, General Motors, Tropicana Entertainment and Goldman Sachs.
The fast-growing subscription company MoviePass is joining with one of the nation’s oldest cinema services. The majority owner of MoviePass has agreed to buy Moviefone from Verizon unit Oath.
A graphic look at selected stock activity for the week ended February 16, 2018. Includes Arista Networks, Avon Products, and Lumber Liquidators.
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Helios & Matheson Analytics, Inc. engages in the provision of information technology services and solutions. It operates through the following segments: Consulting, Technology, and Subscription. The company was founded in February 1983 and is headquartered in New York, NY. (See Full Profile)
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