Stock 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 activity on Monday. Stock investors acquired 161,950 call options on the company. This is an increase of 50% compared to the typical daily volume of 107,856 call options.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds have recently modified their holdings of the company. Readystate Asset Management LP purchased a new position in AMC Entertainment during the second quarter worth about $8,343,000. Fund 1 Investments LLC acquired a new position in AMC Entertainment in the 2nd quarter valued at about $4,192,000. Headlands Technologies LLC purchased a new stake in shares of AMC Entertainment in the 2nd quarter valued at approximately $1,643,000. WINTON GROUP Ltd purchased a new stake in shares of AMC Entertainment in the 2nd quarter valued at approximately $969,000. Finally, Bank of America Corp DE grew its stake in shares of AMC Entertainment by 34.3% in the 1st 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 period. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Trading Up 12.1%

NYSE AMC traded up $0.35 on Monday, reaching $3.29. 72,503,242 shares of the company were exchanged, compared to its average volume of 36,520,934. The business’s fifty day moving average price is $2.59 and its 200 day moving average price is $1.97. The stock has a market capitalization of $2.94 billion, a P/E ratio of -3.08 and a beta of 2.01. AMC Entertainment has a fifty-two week low of $0.93 and a fifty-two week high of $3.40.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.17. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Equities research analysts forecast that AMC Entertainment will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Zacks Research cut AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Benchmark restated a “buy” rating and issued a $3.00 target price (up from $2.50) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Needham & Company LLC set a $3.50 price target on AMC Entertainment in a research note on Tuesday, July 21st. Finally, Citigroup reiterated a “sell” rating and set a $2.20 price target (up from $1.80) on shares of AMC Entertainment in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, AMC Entertainment has an average rating of “Hold” and an average target price of $2.67.

About AMC Entertainment

AMC Entertainment Holdings, Inc is a movie exhibition company that operates cinemas in the United States and internationally. Its theaters show first-run films and offer a range of viewing formats, including premium large-screen, enhanced sound and 3D experiences, along with reserved seating and other in-theater amenities.

The company generates revenue primarily from movie admissions and the sale of food and beverages, including popcorn, drinks and other concessions. AMC also operates advertising and promotional programs, loyalty offerings through AMC Stubs, and initiatives that extend its cinema brand beyond traditional theater operations, including the sale of AMC-branded popcorn through retail channels.

AMC traces its history to 1920, when the Dubinsky Brothers opened their first theater in Kansas City, Missouri.