Traders Buy Large Volume of Call Options on AMC Entertainment (NYSE:AMC)

by · The Markets Daily

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 131,011 call options on the stock. This represents an increase of 43% compared to the typical daily volume of 91,456 call options.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently bought and sold shares of AMC. Readystate Asset Management LP purchased a new position in AMC Entertainment in the 2nd quarter valued at approximately $8,343,000. Fund 1 Investments LLC bought a new stake in shares of AMC Entertainment in the 2nd quarter worth about $4,192,000. Fulcrum Asset Management LLP raised its holdings in shares of AMC Entertainment by 736.1% during the third quarter. Fulcrum Asset Management LLP now owns 1,033,874 shares of the company’s stock worth $3,184,000 after purchasing an additional 910,214 shares during the period. Headlands Technologies LLC acquired a new stake in AMC Entertainment in the second quarter worth $1,643,000. Finally, Bank of America Corp DE raised its holdings in shares of AMC Entertainment by 34.3% during the first quarter. Bank of America Corp DE now owns 543,857 shares of the company’s stock valued at $533,000 after buying an additional 138,853 shares during the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMC shares. Zacks Research raised AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. UBS Group reaffirmed a “buy” rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. B. Riley Financial reaffirmed a “neutral” rating on shares of AMC Entertainment in a report on Monday, October 19th. Citigroup reiterated a “sell” rating and issued a $2.20 target price (up from $1.80) on shares of AMC Entertainment in a research report on Friday, September 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, AMC Entertainment has a consensus rating of “Moderate Buy” and an average target price of $2.67.

Read Our Latest Research Report on AMC Entertainment

AMC Entertainment Stock Performance

AMC stock traded up $0.22 during midday trading on Wednesday, reaching $3.50. The company’s stock had a trading volume of 43,085,146 shares, compared to its average volume of 34,847,836. The stock has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $1.99. AMC Entertainment has a 1 year low of $0.93 and a 1 year high of $3.56. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -3.27 and a beta of 2.03.

AMC Entertainment (NYSE:AMC – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. As a group, analysts forecast that AMC Entertainment will post -0.06 EPS for the current fiscal year.

About AMC Entertainment

(Get Free Report)

AMC Entertainment Holdings, Inc is one of the world’s largest theatrical exhibition companies. Through its AMC Theatres and ODEON Cinemas Group brands, the company operates movie theaters that showcase new film releases and provide audiences with premium viewing experiences.

AMC’s theater offerings include standard and large-format screens, IMAX and Dolby Cinema experiences, reserved seating, mobile and online ticketing, and food and beverage services. The company also operates loyalty programs, including AMC Stubs, and offers subscription and membership products in select markets.

Founded in 1920, AMC serves moviegoers primarily in the United States and Europe.

Further Reading