AMC Entertainment (NYSE:AMC) Stock Price Breaks Above 50 Day Moving Average - What's Next?

Key Points

• AMC shares broke above their 50-day moving average, reaching $3.01 before closing at $2.965, up 3.0%. The stock’s 50-day average was $2.68, compared with a 200-day average of $2.10.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $2.67. Recent targets range from $2.50 to $3.50, while ratings include one Strong Buy, three Buys, four Holds, and two Sells.
• AMC exceeded quarterly expectations, reporting $0.14 in EPS versus the forecasted loss of $0.03 and revenue of $1.60 billion versus the $1.50 billion estimate. Institutional investors own 28.8% of the company, with several hedge funds recently establishing or increasing positions.

AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report)'s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $2.68 and traded as high as $3.01. AMC Entertainment shares last traded at $2.9650, with a volume of 14,189,441 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Zacks Research downgraded shares of AMC Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Benchmark reiterated a "buy" rating and issued a $3.00 target price (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. UBS Group reissued a "buy" rating on shares of AMC Entertainment in a research report on Tuesday, July 21st. Needham & Company LLC set a $3.50 price target on shares of AMC Entertainment in a report on Tuesday, July 21st. Finally, B. Riley Financial reaffirmed a "neutral" rating and issued a $2.50 price target (up from $2.25) on shares of AMC Entertainment in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, AMC Entertainment currently has a consensus rating of "Hold" and a consensus price target of $2.67.

AMC Entertainment Stock Up 3.0%

The company has a market capitalization of $2.65 billion, a P/E ratio of -2.77 and a beta of 1.97. The firm has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $2.10.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its earnings results on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.17. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, analysts predict that AMC Entertainment Holdings, Inc. will post -0.20 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently made changes to their positions in AMC. Readystate Asset Management LP bought a new position in AMC Entertainment during the second quarter valued at about $8,343,000. Fund 1 Investments LLC bought a new stake in shares of AMC Entertainment in the 2nd quarter worth approximately $4,192,000. Headlands Technologies LLC bought a new stake in shares of AMC Entertainment in the 2nd quarter worth approximately $1,643,000. Bank of America Corp DE grew its holdings in shares of AMC Entertainment by 34.3% during the 1st quarter. Bank of America Corp DE now owns 543,857 shares of the company's stock worth $533,000 after purchasing an additional 138,853 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of AMC Entertainment during the second quarter valued at approximately $969,000. Institutional investors own 28.80% of the company's stock.

About AMC Entertainment

AMC Entertainment Holdings, Inc operates one of the world's largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.

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