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

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) was the recipient of unusually large options trading activity on Friday. Stock traders bought 274,997 put options on the stock. This is an increase of approximately 11% compared to the average volume of 248,288 put options.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMC. MKM Partners lowered their price target on AMC Entertainment to $0.50 in a research report on Tuesday, September 6th. B. Riley decreased their price objective on shares of AMC Entertainment from $11.00 to $7.50 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. Citigroup cut their target price on AMC Entertainment from $1.20 to $1.10 in a research note on Friday, November 25th. Finally, StockNews.com initiated coverage on AMC Entertainment in a report on Wednesday, October 12th. They set a “sell” rating for the company. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $3.72.

AMC Entertainment Stock Performance

Shares of AMC traded down $0.49 during trading hours on Friday, hitting $4.42. The stock had a trading volume of 659,328 shares, compared to its average volume of 28,530,640. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.34 and a beta of 1.60. AMC Entertainment has a fifty-two week low of $4.11 and a fifty-two week high of $34.33. The firm has a 50-day moving average price of $6.49 and a 200 day moving average price of $6.02.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares in the last quarter. Allworth Financial LP lifted its position in AMC Entertainment by 46.6% during the second quarter. Allworth Financial LP now owns 2,224 shares of the company’s stock worth $30,000 after buying an additional 707 shares in the last quarter. Cypress Capital Management LLC WY boosted its stake in AMC Entertainment by 31.9% during the second quarter. Cypress Capital Management LLC WY now owns 3,103 shares of the company’s stock worth $42,000 after buying an additional 750 shares during the last quarter. Spire Wealth Management grew its holdings in AMC Entertainment by 132.4% in the 2nd quarter. Spire Wealth Management now owns 3,397 shares of the company’s stock valued at $46,000 after buying an additional 1,935 shares in the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of AMC Entertainment in the 3rd quarter worth $60,000. 26.14% of the stock is owned by institutional investors and hedge funds.

About AMC Entertainment

(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.

Further Reading

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