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

by · The Markets Daily

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 286,941 call options on the company. This is an increase of approximately 162% compared to the average volume of 109,662 call options.

Hedge Funds Weigh In On AMC Entertainment

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in AMC Entertainment by 22.9% during the first quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after buying an additional 4,617,007 shares during the period. Renaissance Technologies LLC increased its holdings in shares of AMC Entertainment by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after acquiring an additional 1,585,430 shares during the period. Marshall Wace LLP acquired a new position in shares of AMC Entertainment in the 2nd quarter valued at $6,775,000. SG Americas Securities LLC grew its position in AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after buying an additional 1,064,805 shares during the last quarter. Finally, Boulder Hill Capital Management LP purchased a new position in AMC Entertainment in the 1st quarter valued at $2,842,000. 28.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AMC. Morgan Stanley decreased their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. B. Riley cut their price target on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and set a $4.00 price objective on shares of AMC Entertainment in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.44.

Check Out Our Latest Stock Report on AMC Entertainment

AMC Entertainment Stock Performance

AMC stock traded up $0.22 during trading on Monday, hitting $4.49. 24,267,973 shares of the company’s stock traded hands, compared to its average volume of 26,221,590. The business has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.67. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.79 and a beta of 1.83. AMC Entertainment has a 52 week low of $2.38 and a 52 week high of $11.88.

AMC Entertainment (NYSE:AMC – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted ($0.09) EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts forecast that AMC Entertainment will post -1.36 earnings per share for the current fiscal year.

AMC Entertainment Company Profile

(Get Free Report)

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.

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