AMC Entertainment (NYSE:AMC) Stock Passes Above 50-Day Moving Average - Here's What Happened

Key Points

• AMC Entertainment's stock surpassed its 50-day moving average of $2.93, trading as high as $3.07 before closing at $3.00 with a volume of over 22 million shares.
• The company received upgrades from analysts, with Wall Street Zen changing its rating from "strong sell" to "hold" and Wedbush increasing the target price from $3.00 to $4.00.
• Institutional investors have shown interest in AMC, with several firms purchasing new positions, leading to hedge funds owning approximately 28.80% of the stock.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.93 and traded as high as $3.07. AMC Entertainment shares last traded at $3.00, with a volume of 22,866,291 shares changing hands.

Analyst Ratings Changes

AMC has been the topic of several analyst reports. Wall Street Zen upgraded AMC Entertainment from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $3.00 to $4.00 in a research note on Friday, July 11th. Finally, Citigroup boosted their price target on AMC Entertainment from $2.60 to $2.70 and gave the company a "sell" rating in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $3.33.

AMC Entertainment Stock Performance

The company's 50 day moving average price is $2.93 and its 200-day moving average price is $2.97. The company has a market cap of $1.54 billion, a PE ratio of -3.37 and a beta of 1.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Total Investment Management Inc. purchased a new position in AMC Entertainment in the second quarter worth $27,000. Ground Swell Capital LLC purchased a new position in AMC Entertainment in the first quarter worth $30,000. Sovereign Financial Group Inc. purchased a new position in AMC Entertainment in the second quarter worth $32,000. CFO4Life Group LLC purchased a new position in AMC Entertainment in the second quarter worth $33,000. Finally, May Hill Capital LLC bought a new stake in AMC Entertainment in the second quarter worth $34,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

AMC Entertainment Company Profile

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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