Investors Purchase Large Volume of AMC Entertainment Call Options (NYSE:AMC)

Key Points

• Investors bought 131,011 AMC call options on Wednesday, about 43% above the typical volume of 91,456.
• AMC shares rose $0.22 to $3.50 in mid-day trading, near the stock’s 12-month high of $3.56.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $2.67; AMC also reported quarterly EPS of $0.13, beating the $0.09 consensus, and revenue of $1.71 billion versus estimates of $1.66 billion.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) was the target of some unusual options trading on Wednesday. Investors acquired 131,011 call options on the company. This represents an increase of approximately 43% compared to the typical volume of 91,456 call options.

Wall Street Analyst Weigh In

AMC has been the topic of a number of analyst reports. B. Riley Financial reiterated a "neutral" rating on shares of AMC Entertainment in a research note on Monday, October 19th. Benchmark reaffirmed 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. Weiss Ratings raised AMC Entertainment from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 31st. Texas Capital raised AMC Entertainment from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. Finally, Needham & Company LLC set a $3.50 price objective on shares of AMC Entertainment in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2.67.

Hedge Funds Weigh In On AMC Entertainment

Several hedge funds have recently made changes to their positions in the company. Summit Asset Management LLC acquired a new position in shares of AMC Entertainment during the 2nd quarter worth $28,000. Yousif Capital Management LLC bought a new stake in shares of AMC Entertainment in the 3rd quarter valued at approximately $32,000. Royal Bank of Canada boosted its position in AMC Entertainment by 90.7% during the 1st quarter. Royal Bank of Canada now owns 33,657 shares of the company's stock valued at $33,000 after purchasing an additional 16,011 shares during the period. Miller Financial Services LLC bought a new stake in AMC Entertainment during the 3rd quarter valued at $33,000. Finally, Alta Advisers Ltd bought a new stake in AMC Entertainment during the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 28.80% of the company's stock.

AMC Entertainment Stock Performance

Shares of AMC stock traded up $0.22 during mid-day trading on Wednesday, reaching $3.50. 43,085,146 shares of the company's stock traded hands, compared to its average volume of 34,847,836. AMC Entertainment has a 12 month low of $0.93 and a 12 month high of $3.56. The firm has a 50 day moving average price of $2.83 and a two-hundred day moving average price of $1.99. The firm has a market capitalization of $3.12 billion, a PE ratio of -3.27 and a beta of 2.03.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities analysts expect that AMC Entertainment will post -0.06 earnings per share for the current fiscal year.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is one of the world's largest theatrical exhibition companies. Through its AMC Theatres and ODEON Cinemas Group brands, the company operates movie theaters that showcase new film releases and provide audiences with premium viewing experiences.

AMC's theater offerings include standard and large-format screens, IMAX and Dolby Cinema experiences, reserved seating, mobile and online ticketing, and food and beverage services. The company also operates loyalty programs, including AMC Stubs, and offers subscription and membership products in select markets.

Founded in 1920, AMC serves moviegoers primarily in the United States and Europe.

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