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

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw some unusual options trading activity on Tuesday. Traders bought 227,898 call options on the company. This is an increase of 108% compared to the typical daily volume of 109,806 call options.

Institutional Trading of AMC Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in AMC. KBC Group NV purchased a new stake in shares of AMC Entertainment in the third quarter valued at about $37,000. Creative Planning bought a new position in AMC Entertainment during the third quarter valued at about $48,000. Skylands Capital LLC bought a new position in AMC Entertainment during the second quarter valued at about $50,000. Amalgamated Bank grew its position in AMC Entertainment by 31.5% during the third quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock valued at $53,000 after buying an additional 2,771 shares during the period. Finally, Burns Matteson Capital Management LLC bought a new position in AMC Entertainment during the third quarter valued at about $55,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Trading Down 1.3 %

AMC opened at $4.80 on Wednesday. The company’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $4.78. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $11.88. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -3.02 and a beta of 1.83.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company posted ($0.09) EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that AMC Entertainment will post -1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMC shares. B. Riley dropped their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Wedbush reiterated a “neutral” rating and set a $4.00 target price on shares of AMC Entertainment in a research report on Monday, August 5th. Macquarie reiterated an “underperform” rating and set a $4.00 target price on shares of AMC Entertainment in a research report on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $5.44.

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.