AMC Entertainment (NYSE:AMC) Share Price Crosses Below 200-Day Moving Average of $41.62

AMC Entertainment Holdings, Inc. (NYSE:AMC) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.62 and traded as low as $8.05. AMC Entertainment shares last traded at $8.15, with a volume of 46,722,824 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Credit Suisse Group cut their target price on AMC Entertainment from $8.38 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, September 1st. B. Riley boosted their target price on AMC Entertainment from $4.50 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, September 5th. Citigroup reissued a “sell” rating on shares of AMC Entertainment in a research report on Monday, July 3rd. Wedbush raised AMC Entertainment from an “underperform” rating to a “neutral” rating and set a $19.00 target price on the stock in a research report on Thursday, August 24th. Finally, Roth Mkm restated a “sell” rating on shares of AMC Entertainment in a research note on Wednesday, August 16th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $22.00.

AMC Entertainment Stock Up 2.7 %

The stock has a market capitalization of $434.05 million, a PE ratio of -1.31 and a beta of 1.89. The business’s 50-day moving average is $32.26 and its two-hundred day moving average is $41.30.

Insider Activity at AMC Entertainment

In related news, major shareholder Antara Capital Lp sold 756,623 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $18.60, for a total value of $14,073,187.80. Following the completion of the sale, the insider now directly owns 11,050,032 shares of the company’s stock, valued at $205,530,595.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 2,005,302 shares of company stock valued at $35,796,432 over the last ninety days. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Machina Capital S.A.S. purchased a new stake in shares of AMC Entertainment in the first quarter valued at about $26,000. Covestor Ltd raised its holdings in AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in AMC Entertainment by 32.0% during the first quarter. Exchange Traded Concepts LLC now owns 8,156 shares of the company’s stock worth $41,000 after purchasing an additional 1,977 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in AMC Entertainment during the fourth quarter worth about $46,000. Finally, PNC Financial Services Group Inc. raised its holdings in AMC Entertainment by 44.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after purchasing an additional 3,448 shares in the last quarter. 28.79% of the stock is 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. The company owns, operates, or has interests in theatres in the United States and Europe. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.