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

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw some unusual options trading activity on Tuesday. Investors bought 227,898 call options on the company. This is an increase of approximately 108% compared to the average daily volume of 109,806 call options.

AMC Entertainment Trading Down 1.3 %

Shares of NYSE:AMC opened at $4.80 on Wednesday. The firm has a 50 day moving average of $4.43 and a 200-day moving average of $4.78. The stock has a market capitalization of $1.80 billion, a PE ratio of -3.02 and a beta of 1.83. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $11.88.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. AMC Entertainment’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, research analysts predict that AMC Entertainment will post -1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMC shares. Morgan Stanley reduced their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Macquarie reaffirmed an “underperform” rating and set a $4.00 target price on shares of AMC Entertainment in a report on Wednesday, November 13th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. B. Riley reduced their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $4.00 target price on shares of AMC Entertainment in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $5.44.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in AMC Entertainment by 1,894.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock worth $5,583,000 after acquiring an additional 1,064,805 shares during the last quarter. Scientech Research LLC bought a new stake in shares of AMC Entertainment in the 2nd quarter valued at $1,167,000. Bank of New York Mellon Corp boosted its stake in shares of AMC Entertainment by 92.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock valued at $5,411,000 after purchasing an additional 522,063 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AMC Entertainment by 24.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,620 shares of the company’s stock valued at $245,000 after purchasing an additional 12,975 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of AMC Entertainment by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock valued at $92,273,000 after purchasing an additional 4,617,007 shares during the last quarter. 28.80% of the stock is owned by institutional investors.

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.