How Top Investors Are Trading AMC Entertainment Holdings Inc (AMC)?

Judging by the fact that AMC Entertainment Holdings Inc (NYSE:AMC) has witnessed declining sentiment from the aggregate hedge fund industry, it’s safe to say that there were a few funds who were dropping their entire stakes heading into Q4. At the top of the heap, Israel Englander’s Millennium Management dumped the largest stake of the 700 funds tracked by Insider Monkey, comprising an estimated $3.6 million in stock, and Louis Bacon of Moore Global Investments was right behind this move, as the fund said goodbye to about $3.4 million worth of shares. These moves are intriguing to say the least, as aggregate hedge fund interest fell by 2 funds heading into Q4.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as AMC Entertainment Holdings Inc (NYSE:AMC) but similarly valued. These stocks are MB Financial, Inc. (NASDAQ:MBFI), Kate Spade & Co (NYSE:KATE), Kite Pharma Inc (NASDAQ:KITE), and Puma Biotechnology Inc (NYSE:PBYI). This group of stocks’ market values matches AMC Entertainment Holdings Inc (NYSE:AMC)’s market value.

As you can see, these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $427 million. That figure was $78 million in AMC Entertainment Holdings Inc (NYSE:AMC)’s case. Kate Spade & Co (NYSE:KATE) is the most popular stock in this table. On the other hand, MB Financial, Inc. (NASDAQ:MBFI) is the least popular one with only 9 bullish hedge fund positions. AMC Entertainment Holdings Inc (NYSE:AMC) is not the most popular stock in this group, but hedge fund interest is still above average. Although this is a slightly positive signal, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Kate Spade & Co (NYSE:KATE) might be a better candidate to consider a long position.