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

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw unusually large options trading activity on Thursday. Traders acquired 189,151 call options on the stock. This represents an increase of 35% compared to the average volume of 140,341 call options.

AMC Entertainment Stock Up 9.0 %

NYSE AMC opened at $2.97 on Thursday. The company has a 50-day simple moving average of $4.03 and a two-hundred day simple moving average of $5.99. AMC Entertainment has a 12-month low of $2.38 and a 12-month high of $62.30. The firm has a market cap of $780.63 million, a price-to-earnings ratio of -1.27 and a beta of 1.62.

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

Analyst Ratings Changes

Several brokerages have issued reports on AMC. Wedbush reiterated a “neutral” rating and set a $6.00 target price on shares of AMC Entertainment in a research report on Friday, February 23rd. B. Riley cut their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, AMC Entertainment presently has a consensus rating of “Reduce” and a consensus price target of $6.35.

Hedge Funds Weigh In On AMC Entertainment

A number of large investors have recently bought and sold shares of AMC. American Century Companies Inc. increased its stake in AMC Entertainment by 17.5% in the 1st quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock worth $500,000 after purchasing an additional 3,020 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in AMC Entertainment by 49.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock worth $1,097,000 after purchasing an additional 14,732 shares during the period. Panagora Asset Management Inc. increased its stake in shares of AMC Entertainment by 141.2% during the first quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock valued at $1,238,000 after buying an additional 29,413 shares during the period. Cibc World Market Inc. purchased a new position in shares of AMC Entertainment during the first quarter valued at approximately $321,000. Finally, Prudential PLC purchased a new position in shares of AMC Entertainment during the first quarter valued at approximately $275,000. 28.80% of the stock is owned by hedge funds and other institutional investors.

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.