AMC Entertainment (NYSE:AMC) Shares Pass Above Fifty Day Moving Average - What's Next?

Key Points

• AMC Entertainment's share price recently crossed above its 50-day moving average of $2.89, with shares trading as high as $2.93 before closing at $2.85.
• The company received an upgraded rating from Wedbush, increasing its price target from $3.00 to $4.00, while the average consensus target price is currently $3.33.
• Institutional investors hold 28.80% of AMC's stock, highlighting considerable interest from major investment firms in recent quarters.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.89 and traded as high as $2.93. AMC Entertainment shares last traded at $2.85, with a volume of 19,490,862 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMC shares. Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $3.00 to $4.00 in a research note on Friday, July 11th. Citigroup boosted their price objective on AMC Entertainment from $2.60 to $2.70 and gave the company a "sell" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded AMC Entertainment from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of AMC Entertainment in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $3.33.

AMC Entertainment Stock Performance

The firm has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $2.97. The firm has a market cap of $1.46 billion, a P/E ratio of -3.20 and a beta of 1.25.

Hedge Funds Weigh In On AMC Entertainment

A number of institutional investors have recently added to or reduced their stakes in AMC. Ameritas Investment Partners Inc. grew its stake in shares of AMC Entertainment by 8.7% during the second quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the company's stock valued at $138,000 after buying an additional 3,558 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of AMC Entertainment by 24.3% in the 1st quarter. Mackenzie Financial Corp now owns 22,517 shares of the company's stock valued at $65,000 after acquiring an additional 4,400 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of AMC Entertainment by 5.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company's stock valued at $252,000 after acquiring an additional 4,551 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of AMC Entertainment by 10.1% in the 1st quarter. Victory Capital Management Inc. now owns 51,805 shares of the company's stock valued at $149,000 after acquiring an additional 4,756 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of AMC Entertainment by 21.8% in the 1st quarter. Xponance Inc. now owns 30,383 shares of the company's stock valued at $87,000 after acquiring an additional 5,446 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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