AMC Entertainment (NYSE:AMC) Share Price Breaks Above 50 Day Moving Average – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares crossed 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 changing hands.

Analyst Upgrades and Downgrades

AMC has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $3.00 price objective (up from $2.50) on shares of AMC Entertainment in a report on Tuesday, July 21st. Citigroup reissued a “sell” rating and set a $2.20 target price (up from $1.80) on shares of AMC Entertainment in a research note on Friday, September 25th. Needham & Company LLC set a $3.50 target price on AMC Entertainment in a research note on Tuesday, July 21st. UBS Group restated a “buy” rating on shares of AMC Entertainment in a report on Tuesday, July 21st. Finally, Zacks Research lowered AMC Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.67.

AMC Entertainment Stock Up 3.0%

The company’s fifty day simple moving average is $2.68 and its 200 day simple moving average is $2.10. The firm has a market capitalization of $2.65 billion, a PE ratio of -2.77 and a beta of 1.97.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Monday, July 20th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.17. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.50 billion. Equities research analysts forecast that AMC Entertainment Holdings, Inc. will post -0.20 EPS for the current year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd bought a new position in AMC Entertainment in the second quarter worth $969,000. Readystate Asset Management LP bought a new stake in shares of AMC Entertainment during the 2nd quarter valued at $8,343,000. Headlands Technologies LLC bought a new stake in shares of AMC Entertainment during the 2nd quarter valued at $1,643,000. Fund 1 Investments LLC bought a new stake in shares of AMC Entertainment during the 2nd quarter valued at $4,192,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of AMC Entertainment by 3,100.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 225,685 shares of the company’s stock valued at $352,000 after buying an additional 218,634 shares in the last quarter. 28.80% of the stock is currently owned by institutional investors.

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.