Traders purchase a large number of put options on AMC Entertainment (NYSE:AMC)

Options trading in AMC Entertainment Holdings Inc. (NYSE: AMC ), which saw unusually high trading volume on Friday, was particularly active due to the day’s unusually high trading volume. Market participants bought a total of 274,997 options on the stock to sell put contracts. Compared to the average volume of put options traded, which is 248,288 contracts, this represents an increase of 11%.

AMC stock traded down $0.49 during trading on Friday, bringing the stock price up to $4.42. The total number of shares of the company changed hands was 659,328, compared to its average daily volume of 28,530,640 shares. The company’s market cap is valued at $2.28 billion, its price-to-earnings ratio is -3.34 and its beta is 1.60. Over the past 52 weeks, prices for AMC Entertainment ranged from $4.11 to $34.33, with an average price of $34.33. The moving averages for the last 50 days are $6.49 for the company, while the moving averages for the last 200 days are $6.02.
Several different brokerages have expressed interest in AMC recently due to its strong performance. MKM Partners revealed their decision to reduce their price objective on AMC Entertainment to $0.50 in a research note released on Tuesday, September 6th. B. Riley cut their price objective on AMC Entertainment from $11.00 to $7.50 and gave the company a “neutral” rating 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 report on Friday, November 25th. On October 12th, a report about AMC Entertainment appeared first on StockNews.com. They suggested that clients “sell” the company to the company. Currently there are three analysts who think the company’s stock should be a sell, while there are two analysts who think the stock should be a hold. The investment community considers the company to have a “Reduce” rating and their price target on the stock is currently pegged at $3.72, according to data sourced from Bloomberg.com. At the same time, the price target was also set.
Hedge funds have either increased or decreased the amount of shares they currently own in the company over the past few months. Covestor Ltd. increased its holdings in AMC Entertainment by 417.6% in the first three months of the year. Covestor Ltd now owns 1,061 shares in the company, valued at $26,000. This is because the firm bought an additional 856 shares of the stock during the last quarter. The value of Allworth Financial LP’s holdings in AMC Entertainment increased by 46.6% in the second quarter compared to the previous quarter. After purchasing an additional 707 shares during the most recent quarter, Allworth Financial LP now proudly owns 2,224 shares of the company’s stock, bringing the total value of its holdings to $30,000. This brings the total number of shares held by the company to 2,224. Cypress Capital Management LLC WY boosted its stake in shares of AMC Entertainment by 31.9% in the second quarter. After buying an additional 750 shares during the most recent fiscal quarter, Cypress Capital Management LLC WY now owns 3,103 shares of its portfolio. These shares have a total value of $42,000. Spire Wealth Management saw a 132.4% increase in the value of its holdings in AMC Entertainment during the second quarter. After a new purchase of 1,935 shares during the most recent fiscal quarter, Spire Wealth Management now owns 3,397 shares of the company’s stock. Based on the current market price, these shares are worth $46,000. The latest transaction, which occurred during the third quarter, involved Brookstone Capital Management’s purchase of shares of AMC Entertainment for $60,000. At 26.14% of its total value, the stock is held by hedge funds and other types of institutional investors.

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AMC Entertainment Holdings, Inc. is actively involved in the motion picture exhibition industry through its various subsidiary companies. The company either directly owns and operates theaters throughout the United States and Europe or has some sort of financial stake in the businesses that do. As of March 1, 2022, it has approximately 950 cinemas with 10,600 screens. The city of Leawood, which is located in the state of Kansas, serves as the location of the company’s headquarters. The company was founded in 1920.

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