AMC Entertainment Sees Unusually High Options Volume (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) was the target of unusually large 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.

AMC Entertainment Trading Up 8.2 %

AMC Entertainment stock opened at $3.16 on Friday. AMC Entertainment has a 12-month low of $2.38 and a 12-month high of $62.30. The company has a fifty day simple moving average of $3.99 and a 200-day simple moving average of $5.94. The stock has a market cap of $831.96 million, a P/E ratio of -1.34 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. As a group, sell-side analysts forecast that AMC Entertainment will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMC. American Century Companies Inc. boosted its holdings in shares of AMC Entertainment by 17.5% in the 1st quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock valued at $500,000 after buying an additional 3,020 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in AMC Entertainment by 49.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock valued at $1,097,000 after purchasing an additional 14,732 shares in the last quarter. Panagora Asset Management Inc. grew its position in AMC Entertainment by 141.2% during the first quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock valued at $1,238,000 after purchasing an additional 29,413 shares in the last quarter. Cibc World Market Inc. purchased a new position in AMC Entertainment during the first quarter valued at approximately $321,000. Finally, Prudential PLC bought a new stake in AMC Entertainment in the first quarter worth approximately $275,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.

Analysts Set New Price Targets

AMC has been the topic of a number of research reports. B. Riley decreased their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Wedbush cut their price target on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, AMC Entertainment has a consensus rating of “Reduce” and an average price target 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.