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

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price crossed 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 trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMC. Wall Street Zen raised shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. Wedbush raised shares of AMC Entertainment from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $3.00 to $4.00 in a research note on Friday, July 11th. Finally, Citigroup increased their price target on shares of AMC Entertainment from $2.60 to $2.70 and gave the stock 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.33.

AMC Entertainment Stock Up 3.6%

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in AMC Entertainment by 16.2% in the first quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company’s stock worth $122,882,000 after acquiring an additional 5,961,337 shares during the period. Marshall Wace LLP grew its stake in AMC Entertainment by 17,925.0% during the second quarter. Marshall Wace LLP now owns 11,998,516 shares of the company’s stock valued at $37,195,000 after acquiring an additional 11,931,950 shares in the last quarter. Geode Capital Management LLC grew its stake in AMC Entertainment by 10.6% during the second quarter. Geode Capital Management LLC now owns 10,253,501 shares of the company’s stock valued at $31,790,000 after acquiring an additional 982,532 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in AMC Entertainment by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,074,378 shares of the company’s stock valued at $11,693,000 after acquiring an additional 41,859 shares in the last quarter. Finally, Northern Trust Corp grew its stake in AMC Entertainment by 6.7% during the first quarter. Northern Trust Corp now owns 3,540,656 shares of the company’s stock valued at $10,162,000 after acquiring an additional 222,375 shares in 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.