AMC Entertainment (NYSE:AMC) Share Price Crosses Below 200 Day Moving Average - Should You Sell?
AMC Entertainment Holdings, Inc. (NYSE:AMC) saw its share price dip below the 200-day moving average in trading on Friday. The stock's 200-day moving average is currently set at $4.47, while it traded as low as $3.08 earlier in the day. As of the latest session, AMC shares are priced at $3.12, with a total trading volume of 8,548,084 shares.
Following these movements, various analysts have expressed their opinions regarding AMC Entertainment. On November 7th, B. Riley adjusted their target price for the stock from $8.00 to $6.00 and classified it with a “neutral” rating. StockNews.com, in a report published on November 12th, upgraded AMC shares to a “sell” rating. Similarly, Macquarie reiterated an “underperform” rating while setting the price objective at $4.00 on November 13th. Benchmark also reaffirmed a “hold” rating on the stock during the same week. Currently, four analysts have recommended selling the stock, while three analysts have suggested holding onto it. According to MarketBeat data, AMC Entertainment holds a consensus rating of "Reduce" with an average target price of $5.44.
AMC Entertainment Stock Performance
Currently, the company has a market capitalization of approximately $1.17 billion, with a price-to-earnings ratio of -1.93 and a beta of 1.92. The stock’s 50-day moving average is set at $4.05, while the 200-day moving average remains at $4.47. AMC Entertainment provided its quarterly earnings results on November 6th, revealing an earnings per share (EPS) of ($0.04), which surpassed the consensus estimate of ($0.07) by $0.03. The business reported quarterly revenue of $1.35 billion, slightly above the analyst estimates of $1.33 billion. Compared to the same quarter last year, the company’s revenue showed a 4.1% decline.
Hedge Funds Weigh In On AMC Entertainment
Amidst this stock fluctuation, several large investors have adjusted their positions regarding AMC Entertainment. Amalgamated Bank boosted its holdings by 31.5% during the third quarter, acquiring an additional 2,771 shares, bringing its total to 11,568 shares valued at $53,000. Private Advisor Group LLC increased its stake by 27.5%, now possessing 15,011 shares valued at $68,000 after buying 3,237 additional shares. Furthermore, Victory Capital Management Inc. grew its investment in AMC by 20.1%, totaling 45,711 shares worth $208,000 after acquiring 7,661 shares in the last quarter. Waldron Private Wealth LLC also boosted its position by 47.5%, owning 25,173 shares valued at $115,000 after adding 8,102 shares. Additionally, KBC Group NV acquired a new stake in the company. Currently, institutional investors hold around 28.80% of AMC Entertainment stock.
About AMC Entertainment
AMC Entertainment Holdings, Inc. is engaged in the theatrical exhibition business through its subsidiaries. The company owns, operates, or holds interests in theaters across the United States and Europe. Founded in 1920, its headquarters is located in Leawood, Kansas.
Conclusion: Should You Sell AMC Entertainment Stock?
As the stock continues to hover below its 200-day moving average amid varying analyst ratings and shifts in institutional investments, holders of AMC Entertainment shares may be deliberating whether to sell. With the current external sentiment leaning towards 'reduce' and the stock showing significant volatility, investors should carefully assess their positions before making a decision.
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