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

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the recipient of some unusual options trading activity on Thursday. Stock traders acquired 189,151 call options on the company. This is an increase of 35% compared to the typical daily volume of 140,341 call options.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently bought and sold shares of AMC. Vanguard Group Inc. grew its stake in AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after acquiring an additional 6,577,228 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of AMC Entertainment by 418.4% in the 1st quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock worth $64,934,000 after acquiring an additional 2,126,916 shares during the last quarter. Norges Bank bought a new stake in shares of AMC Entertainment in the 4th quarter worth approximately $12,605,000. Marshall Wace LLP bought a new stake in shares of AMC Entertainment in the 2nd quarter worth approximately $6,406,000. Finally, SG Americas Securities LLC lifted its holdings in shares of AMC Entertainment by 3,234.8% in the 3rd quarter. SG Americas Securities LLC now owns 1,274,309 shares of the company’s stock worth $10,182,000 after acquiring an additional 1,236,097 shares during the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Stock Down 1.7 %

AMC opened at $2.93 on Friday. The company has a market capitalization of $771.41 million, a price-to-earnings ratio of -1.24 and a beta of 1.62. The firm has a 50-day moving average price of $4.01 and a 200-day moving average price of $5.97. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $62.30.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. On average, sell-side analysts expect that AMC Entertainment will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMC shares. Wedbush dropped their price target on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday. B. Riley lowered their price objective on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $5.95.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.