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

Key Points

• AMC Entertainment experienced a significant increase in trading activity, with stock traders purchasing 174,146 call options on Friday, marking a 108% surge compared to the typical volume.
• The company's shares rose 4.4% to $2.97, with a trading volume of over 40 million shares, significantly above its average volume of approximately 10.7 million shares.
• Several institutional investors have increased their stakes in AMC, with Deutsche Bank AG raising its position by 51.3% in the fourth quarter, indicating growing confidence in the stock.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) was the recipient of some unusual options trading on Friday. Traders bought 174,146 call options on the stock. This is an increase of approximately 108% compared to the typical daily volume of 83,809 call options.

AMC Entertainment Price Performance

Shares of AMC traded down $0.03 during mid-day trading on Monday, hitting $2.99. 19,708,299 shares of the company's stock were exchanged, compared to its average volume of 11,252,043. AMC Entertainment has a fifty-two week low of $2.45 and a fifty-two week high of $5.56. The business's 50 day moving average is $2.97 and its two-hundred day moving average is $2.97.

Wall Street Analysts Forecast Growth

AMC has been the topic of several recent analyst reports. Wall Street Zen raised AMC Entertainment from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup upped their price objective on shares of AMC Entertainment from $2.60 to $2.70 and gave the company a "sell" rating in a research note on Tuesday, August 19th. Finally, Wedbush upgraded shares of AMC Entertainment from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $3.00 to $4.00 in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $3.33.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently made changes to their positions in AMC. Marshall Wace LLP raised its holdings in AMC Entertainment by 17,925.0% during the second quarter. Marshall Wace LLP now owns 11,998,516 shares of the company's stock worth $37,195,000 after purchasing an additional 11,931,950 shares in the last quarter. Vanguard Group Inc. raised its holdings in AMC Entertainment by 16.2% during the first quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company's stock worth $122,882,000 after purchasing an additional 5,961,337 shares in the last quarter. GMT Capital Corp purchased a new position in AMC Entertainment during the first quarter worth about $5,212,000. Geode Capital Management LLC raised its holdings in AMC Entertainment by 10.6% during the second quarter. Geode Capital Management LLC now owns 10,253,501 shares of the company's stock worth $31,790,000 after purchasing an additional 982,532 shares in the last quarter. Finally, Nuveen LLC purchased a new position in AMC Entertainment during the first quarter worth about $2,736,000. Institutional investors and hedge funds 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.