Stock traders buy high volume of AMC Entertainment call options (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) was the target of unusual options trading on Friday. Traders acquired 703,015 call options on the company. This represents an 80% increase from the typical volume of 389,753 call options.

AMC Entertainment stock performance

NYSE:AMC shares traded at $3.62 on Friday, hitting $22.28. The company’s stock had a trading volume of 3,183,395 shares, compared to its average volume of 36,736,804. AMC Entertainment has a 52-week low of $9.70 and a 52-week high of 52.79 $. The company has a market capitalization of $11.51 billion, a P/E ratio of -9.92 and a beta of 1.64. The company has a 50-day simple moving average of $14.10 and a 200-day simple moving average of $15.88.

AMC Entertainment (NYSE:AMC – Get Rating) last released quarterly earnings data on Thursday, August 4. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company posted revenue of $1.17 billion for the quarter, versus a consensus estimate of $1.18 billion. AMC Entertainment’s revenue for the quarter increased 162.3% compared to the same quarter last year. During the same period last year, the company posted ($0.71) earnings per share. On average, equity research analysts expect AMC Entertainment to post -1.13 EPS for the current fiscal year.

Changes to analyst ratings

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Several stock analysts have recently weighed in on the stock. Citigroup lowered its price target on AMC Entertainment shares from $6.00 to $5.00 and set a “sell” rating on the stock in a Thursday, July 7 research report. StockNews.com upgraded AMC Entertainment shares to a “sell” rating in a Wednesday, July 20, report. Goldman Sachs Group lowered its price target on AMC Entertainment shares to $34.00 and set a “neutral” rating on the stock in a Friday, July 29 research report. Wedbush reiterated an “underperforming” rating and set a $4.00 price target on AMC Entertainment shares in a research report Tuesday. Finally, B. Riley lowered his price target on AMC Entertainment shares from $16.00 to $11.00 and set a “neutral” rating on the stock in a Tuesday, June 21 research note. Four analysts rated the stock with a sell rating and two issued a hold rating for the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.50.

AMC Entertainment Institutional Trade

Several large investors have recently changed their positions in AMC. Vanguard Group Inc. increased its position in AMC Entertainment by 0.6% during the first quarter. Vanguard Group Inc. now owns 47,381,679 shares of the company worth $1,167,484,000 after purchasing an additional 296,013 shares in the last quarter. BlackRock Inc. increased its stake in AMC Entertainment shares by 1.0% in the first quarter. BlackRock Inc. now owns 43,321,127 shares of the company valued at $1,067,431,000 after purchasing an additional 428,358 shares during the period. State Street Corp increased its stake in AMC Entertainment shares by 0.8% in the first quarter. State Street Corp now owns 13,393,337 shares of the company valued at $330,012,000 after purchasing an additional 107,221 shares during the period. Geode Capital Management LLC increased its stake in AMC Entertainment shares by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company valued at $247,909,000 after purchasing an additional 423,548 shares during the period. Finally, Northern Trust Corp increased its stake in AMC Entertainment shares by 0.3% in the fourth quarter. Northern Trust Corp now owns 5,795,137 shares of the company valued at $157,627,000 after purchasing an additional 15,617 shares during the period. 34.20% of the shares are held by hedge funds and other institutional investors.

About AMC Entertainment

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

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