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

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) 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 trading hands.

Analyst Ratings Changes

AMC has been the subject of a number of recent analyst reports. Citigroup upped their price target on AMC Entertainment from $2.60 to $2.70 and gave the company a “sell” rating in a research report on Tuesday, August 19th. Wall Street Zen raised AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research report on Saturday, September 27th. Finally, Wedbush raised shares of AMC Entertainment from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $3.00 to $4.00 in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, AMC Entertainment has a consensus rating of “Reduce” and a consensus target price of $3.33.

AMC Entertainment Price 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 PE ratio of -3.20 and a beta of 1.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMC. Total Investment Management Inc. bought a new position in shares of AMC Entertainment in the 2nd quarter worth about $27,000. Ground Swell Capital LLC bought a new position in shares of AMC Entertainment in the 1st quarter worth about $30,000. Sovereign Financial Group Inc. bought a new position in shares of AMC Entertainment in the 2nd quarter worth about $32,000. CFO4Life Group LLC bought a new position in shares of AMC Entertainment in the 2nd quarter worth about $33,000. Finally, May Hill Capital LLC bought a new position in AMC Entertainment in the 2nd quarter worth about $34,000. 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.