AMC Entertainment Target of Unusually High Options Trading (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMCGet Rating) was the target of some unusual options trading on Friday. Stock traders purchased 703,015 call options on the company. This represents an increase of approximately 80% compared to the average daily volume of 389,753 call options.

AMC Entertainment Price Performance

NYSE AMC opened at $22.18 on Friday. AMC Entertainment has a 12 month low of $9.70 and a 12 month high of $52.79. The firm has a market capitalization of $11.46 billion, a PE ratio of -10.77 and a beta of 1.64. The company’s 50 day simple moving average is $14.26 and its 200 day simple moving average is $15.90.

AMC Entertainment (NYSE:AMCGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the firm posted ($0.71) earnings per share. The business’s quarterly revenue was up 162.3% compared to the same quarter last year. Sell-side analysts anticipate that AMC Entertainment will post -1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMC has been the subject of several analyst reports. Wedbush reissued an “underperform” rating and set a $4.00 price target on shares of AMC Entertainment in a report on Tuesday. B. Riley dropped their price target on shares of AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. The Goldman Sachs Group cut their price target on AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. StockNews.com raised AMC Entertainment to a “sell” rating in a report on Wednesday, July 20th. Finally, Citigroup reduced their price target on AMC Entertainment from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Thursday, July 7th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $13.50.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in AMC. BlackRock Inc. boosted its stake in shares of AMC Entertainment by 7.2% during the 4th quarter. BlackRock Inc. now owns 42,892,769 shares of the company’s stock worth $1,166,684,000 after acquiring an additional 2,877,100 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of AMC Entertainment by 86.7% during the fourth quarter. Renaissance Technologies LLC now owns 4,681,833 shares of the company’s stock valued at $127,346,000 after purchasing an additional 2,174,300 shares during the last quarter. Invesco Ltd. boosted its position in shares of AMC Entertainment by 418.4% in the 1st quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock valued at $64,934,000 after purchasing an additional 2,126,916 shares during the period. Coatue Management LLC purchased a new position in AMC Entertainment in the 1st quarter worth about $12,801,000. Finally, California Public Employees Retirement System raised its holdings in AMC Entertainment by 432.1% during the 4th quarter. California Public Employees Retirement System now owns 619,400 shares of the company’s stock worth $16,848,000 after buying an additional 503,000 shares during the period. Institutional investors own 34.20% of the company’s stock.

AMC Entertainment Company Profile

(Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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