Investors Buy High Volume of Put Options on AMC Entertainment (AMC)

AMC Entertainment Holdings Inc (NYSE:AMC) was the recipient of some unusual options trading on Tuesday. Stock investors bought 4,878 put options on the company. This is an increase of approximately 1,053% compared to the typical daily volume of 423 put options.

A number of brokerages recently issued reports on AMC. Zacks Investment Research cut AMC Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. B. Riley reissued a “buy” rating and set a $30.00 price objective on shares of AMC Entertainment in a report on Monday, January 22nd. Royal Bank of Canada cut AMC Entertainment from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 10th. Wedbush set a $19.00 price objective on AMC Entertainment and gave the stock a “buy” rating in a report on Monday, January 8th. Finally, Credit Suisse Group dropped their price objective on AMC Entertainment from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. AMC Entertainment has a consensus rating of “Hold” and an average target price of $23.25.

Large investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance purchased a new stake in shares of AMC Entertainment in the 3rd quarter valued at about $291,000. Aperio Group LLC purchased a new stake in shares of AMC Entertainment in the 3rd quarter valued at about $440,000. Bank of Nova Scotia purchased a new stake in shares of AMC Entertainment in the 2nd quarter valued at about $1,138,000. Corbyn Investment Management Inc. MD raised its holdings in shares of AMC Entertainment by 2.4% in the 3rd quarter. Corbyn Investment Management Inc. MD now owns 578,509 shares of the company’s stock valued at $8,504,000 after acquiring an additional 13,755 shares in the last quarter. Finally, Fondren Management LP purchased a new stake in shares of AMC Entertainment in the 2nd quarter valued at about $1,138,000. 49.13% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment (AMC) traded up $0.40 during trading hours on Wednesday, hitting $14.25. The company’s stock had a trading volume of 1,978,931 shares, compared to its average volume of 2,085,473. AMC Entertainment has a 1 year low of $10.80 and a 1 year high of $32.10. The stock has a market cap of $1,793.24, a PE ratio of -11.17 and a beta of 1.10. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.01.

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AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.

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