National CineMedia (NASDAQ:NCMI) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of National CineMedia (NASDAQ:NCMI) from a strong sell rating to a hold rating in a report published on Wednesday,Zacks reports.

NCMI has been the subject of several other reports. Wedbush set a $5.00 price objective on National CineMedia and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Barrington Research set a $4.25 target price on National CineMedia in a research note on Wednesday, August 12th. Weiss Ratings raised National CineMedia from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Finally, Wall Street Zen cut National CineMedia from a “hold” rating to a “sell” rating in a research note on Sunday, September 6th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, National CineMedia currently has an average rating of “Moderate Buy” and a consensus price target of $4.81.

National CineMedia Trading Up 3.4%

Shares of National CineMedia stock opened at $2.46 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $230.70 million, a P/E ratio of -27.33 and a beta of 1.37. National CineMedia has a 1 year low of $2.16 and a 1 year high of $5.03. The company’s fifty day moving average is $3.33 and its two-hundred day moving average is $3.37.

National CineMedia (NASDAQ:NCMI) last announced its earnings results on Tuesday, August 11th. The business services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). National CineMedia had a negative net margin of 3.05% and a negative return on equity of 1.31%. The business had revenue of $58.40 million during the quarter, compared to analysts’ expectations of $59.34 million. Analysts forecast that National CineMedia will post 0.17 earnings per share for the current year.

Insider Transactions at National CineMedia

In related news, insider Maria Woods sold 12,058 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $3.77, for a total value of $45,458.66. Following the completion of the sale, the insider owned 163,162 shares in the company, valued at $615,120.74. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On National CineMedia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Luxor Capital Group LP raised its position in National CineMedia by 61.3% in the first quarter. Luxor Capital Group LP now owns 1,820,737 shares of the business services provider’s stock worth $5,553,000 after acquiring an additional 691,879 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of National CineMedia by 16.0% during the 2nd quarter. Wellington Management Group LLP now owns 3,220,165 shares of the business services provider’s stock worth $12,237,000 after purchasing an additional 444,984 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of National CineMedia during the 2nd quarter worth $2,653,000. Zazove Associates LLC grew its stake in shares of National CineMedia by 78.3% during the 1st quarter. Zazove Associates LLC now owns 458,939 shares of the business services provider’s stock worth $1,400,000 after purchasing an additional 201,564 shares during the period. Finally, Citadel Advisors LLC increased its holdings in shares of National CineMedia by 682.4% in the 2nd quarter. Citadel Advisors LLC now owns 278,577 shares of the business services provider’s stock valued at $1,059,000 after purchasing an additional 242,970 shares in the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.

National CineMedia Company Profile

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.