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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of AMC Entertainment by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 49,270,302 shares of the company’s stock worth $343,413,000 after acquiring an additional 1,682,299 shares in the last quarter. State Street Corp lifted its holdings in shares of AMC Entertainment by 0.8% in the 1st quarter. State Street Corp now owns 13,393,337 shares of the company’s stock worth $330,012,000 after purchasing an additional 107,221 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AMC Entertainment by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,372,225 shares of the company’s stock worth $32,438,000 after purchasing an additional 207,235 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AMC Entertainment by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,496,803 shares of the company’s stock worth $17,519,000 after purchasing an additional 89,411 shares during the last quarter. Institutional investors and hedge funds own 28.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AMC shares. B. Riley lowered their target price on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Wedbush reiterated a “neutral” rating and issued a $6.00 target price on shares of AMC Entertainment in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $6.35.

AMC Entertainment Stock Performance

AMC stock opened at $2.97 on Thursday. AMC Entertainment has a 1 year low of $2.38 and a 1 year high of $62.30. The stock has a 50-day simple moving average of $4.03 and a 200-day simple moving average of $5.99. The firm has a market cap of $780.63 million, a P/E ratio of -1.27 and a beta of 1.62.

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

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.