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. Investors purchased 189,151 call options on the stock. This represents an increase of approximately 35% compared to the typical daily volume of 140,341 call options.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMC shares. Wedbush lowered their price objective on shares of AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday. B. Riley decreased their price target 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. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $5.95.

AMC Entertainment Stock Performance

AMC opened at $2.93 on Friday. The firm’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $5.97. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $62.30. The firm has a market cap of $771.41 million, a price-to-earnings ratio of -1.24 and a beta of 1.62.

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

Institutional Investors Weigh In On AMC Entertainment

A number of hedge funds have recently added to or reduced their stakes in AMC. Covestor Ltd lifted its position in AMC Entertainment by 417.6% during the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after purchasing an additional 856 shares during the period. KBC Group NV acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. acquired a new stake in shares of AMC Entertainment in the 4th quarter valued at approximately $34,000. Quantamental Technologies LLC acquired a new stake in shares of AMC Entertainment in the 1st quarter valued at approximately $212,000. Finally, XTX Topco Ltd bought a new stake in AMC Entertainment during the 1st quarter worth approximately $232,000. Institutional investors own 28.80% of the company’s stock.

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.