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

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw unusually large options trading on Monday. Traders acquired 146,801 call options on the company. Thisrepresentsanincreaseofapproximately68% compared to the average daily volume of 87,602 call options.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup reiterated a “sell” rating and set a $2.60 price objective (up previously from $2.30) on shares of AMC Entertainment in a report on Thursday, May 29th. Wedbush upgraded AMC Entertainment from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $3.00 to $4.00 in a report on Friday, July 11th. B. Riley began coverage on AMC Entertainment in a report on Friday, May 16th. They set a “neutral” rating and a $3.00 price objective for the company. Finally, Roth Mkm reduced their target price on AMC Entertainment from $3.25 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.26.

AMC Entertainment Price Performance

AMC opened at $3.02 on Tuesday. The company’s 50 day simple moving average is $3.11 and its two-hundred day simple moving average is $3.06. AMC Entertainment has a 1-year low of $2.45 and a 1-year high of $5.56. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.08 and a beta of 1.49.

Institutional Trading of AMC Entertainment

Several institutional investors have recently made changes to their positions in AMC. Tidal Investments LLC increased its holdings in AMC Entertainment by 15.7% in the 4th quarter. Tidal Investments LLC now owns 28,581 shares of the company’s stock valued at $114,000 after purchasing an additional 3,885 shares during the last quarter. Mackenzie Financial Corp increased its holdings in AMC Entertainment by 24.3% in the 1st quarter. Mackenzie Financial Corp now owns 22,517 shares of the company’s stock valued at $65,000 after purchasing an additional 4,400 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in AMC Entertainment by 5.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company’s stock valued at $252,000 after purchasing an additional 4,551 shares during the last quarter. Victory Capital Management Inc. increased its holdings in AMC Entertainment by 10.1% in the 1st quarter. Victory Capital Management Inc. now owns 51,805 shares of the company’s stock valued at $149,000 after purchasing an additional 4,756 shares during the last quarter. Finally, Xponance Inc. increased its holdings in AMC Entertainment by 21.8% in the 1st quarter. Xponance Inc. now owns 30,383 shares of the company’s stock valued at $87,000 after purchasing an additional 5,446 shares during the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

About AMC Entertainment

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.