Zacks Investment Research upgraded shares of National CineMedia, Inc. (NASDAQ:NCMI) from a sell rating to a hold rating in a report released on Wednesday, October 18th.
According to Zacks, “NATIONAL CINEMEDIA operates the largest digital in theatre network in North America that allows them to distribute advertisements and other content for our advertising, meetings and events businesses utilizing our proprietary digital content network. They have long term exhibitor services agreements with our founding members, Cinemark and Regal, the three largest motion picture exhibition companies in the U.S.and multi year agreements with several other theatre operators whom they refer to as network affiliates. The network affiliate agreements grant them exclusive rights, subject to limited exceptions, to sell advertising on their theatre screens. “
Other research analysts have also issued reports about the stock. B. Riley reaffirmed a buy rating and set a $14.00 price objective on shares of National CineMedia in a research note on Saturday, August 12th. BidaskClub downgraded National CineMedia from a sell rating to a strong sell rating in a report on Saturday, July 8th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $8.00 target price (down from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. Wedbush assumed coverage on National CineMedia in a research note on Wednesday, August 2nd. They set a neutral rating and a $6.50 price target on the stock. Finally, Credit Suisse Group dropped their target price on National CineMedia from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $10.93.
Shares of National CineMedia (NASDAQ:NCMI) opened at 6.97 on Wednesday. The company has a market cap of $422.48 million, a price-to-earnings ratio of 21.78 and a beta of 0.68. The firm has a 50-day moving average of $6.72 and a 200 day moving average of $7.63. National CineMedia has a 12 month low of $5.12 and a 12 month high of $16.05.
National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $104.30 million. During the same quarter last year, the company earned $0.11 EPS. National CineMedia’s revenue for the quarter was down 15.9% on a year-over-year basis. On average, analysts expect that National CineMedia will post $0.29 earnings per share for the current year.
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In related news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of National CineMedia stock in a transaction on Friday, September 29th. The stock was sold at an average price of $6.49, for a total transaction of $18,172,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in National CineMedia by 55.1% during the first quarter. Renaissance Technologies LLC now owns 849,100 shares of the business services provider’s stock valued at $10,724,000 after acquiring an additional 301,500 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of National CineMedia in the second quarter worth about $1,135,000. Thompson Siegel & Walmsley LLC lifted its stake in shares of National CineMedia by 238.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,707,647 shares of the business services provider’s stock worth $20,091,000 after acquiring an additional 1,907,741 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of National CineMedia by 74.8% in the second quarter. Engineers Gate Manager LP now owns 91,122 shares of the business services provider’s stock worth $676,000 after acquiring an additional 38,984 shares in the last quarter. Finally, Vivaldi Asset Management LLC acquired a new position in shares of National CineMedia in the second quarter worth about $1,439,000. Hedge funds and other institutional investors own 85.68% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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