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

Key Points

• AMC Entertainment saw a significant increase in call options trading, with 146,801 call options acquired, representing a 68% rise compared to the average volume.
• The stock price of AMC rose by 3.2% to $3.02, with 35 million shares traded, significantly higher than its average volume of 10.67 million shares.
• Equity research analysts have mixed views on AMC, with ratings ranging from "sell" to "outperform," and a consensus price target of $4.26.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) saw some unusual options trading activity on Monday. Stock traders bought 146,801 call options on the stock. Thisisanincreaseofapproximately68% compared to the typical daily volume of 87,602 call options.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMC. Wedbush raised shares of AMC Entertainment from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $3.00 to $4.00 in a report on Friday, July 11th. B. Riley began coverage on shares of AMC Entertainment in a report on Friday, May 16th. They issued a "neutral" rating and a $3.00 price target on the stock. Citigroup reissued a "sell" rating and issued a $2.60 price target (up previously from $2.30) on shares of AMC Entertainment in a report on Thursday, May 29th. Finally, Roth Mkm cut their price target on shares of AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $3.31.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. raised its holdings in AMC Entertainment by 8.7% in the second quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the company's stock worth $138,000 after buying an additional 3,558 shares during the last quarter. Tidal Investments LLC grew its stake in shares of AMC Entertainment by 15.7% in the fourth quarter. Tidal Investments LLC now owns 28,581 shares of the company's stock worth $114,000 after acquiring an additional 3,885 shares during the period. Mackenzie Financial Corp grew its stake in shares of AMC Entertainment by 24.3% in the first quarter. Mackenzie Financial Corp now owns 22,517 shares of the company's stock worth $65,000 after acquiring an additional 4,400 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of AMC Entertainment by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company's stock worth $252,000 after acquiring an additional 4,551 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of AMC Entertainment by 10.1% in the first quarter. Victory Capital Management Inc. now owns 51,805 shares of the company's stock worth $149,000 after acquiring an additional 4,756 shares during the period. 28.80% of the stock is owned by institutional investors.

AMC Entertainment Price Performance

AMC stock traded down $0.02 during trading on Thursday, reaching $3.05. The company had a trading volume of 11,568,829 shares, compared to its average volume of 13,272,331. AMC Entertainment has a 52 week low of $2.45 and a 52 week high of $5.56. The company has a market cap of $1.32 billion, a P/E ratio of -3.43 and a beta of 1.49. The business has a 50 day moving average of $3.10 and a 200 day moving average of $3.06.

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.