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

Key Points

• Zacks Research upgraded National CineMedia from “strong sell” to “hold.” Despite mixed analyst opinions, the stock has a consensus “Moderate Buy” rating and an average price target of $4.81.
• NCMI shares opened at $2.46, below their 50-day and 200-day moving averages of $3.33 and $3.37, respectively. The stock has traded between $2.16 and $5.03 over the past year.
• National CineMedia’s latest quarterly results fell slightly short of expectations, with an adjusted loss of $0.10 per share and revenue of $58.4 million versus estimates of $59.34 million. Institutional investors own approximately 69.49% of the company.

National CineMedia (NASDAQ:NCMI - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Wednesday, Zacks reports.

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

National CineMedia Stock Performance

Shares of NCMI stock opened at $2.46 on Wednesday. National CineMedia has a one year low of $2.16 and a one year high of $5.03. The company's 50-day moving average is $3.33 and its 200 day moving average is $3.37. The company has a market capitalization of $230.70 million, a price-to-earnings ratio of -27.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.84 and a current ratio of 1.84.

National CineMedia (NASDAQ:NCMI - Get Free Report) last issued its earnings results on Tuesday, August 11th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $58.40 million during the quarter, compared to analysts' expectations of $59.34 million. National CineMedia had a negative return on equity of 1.31% and a negative net margin of 3.05%. Sell-side analysts expect that National CineMedia will post 0.17 EPS for the current fiscal year.

Insider Activity

In other National CineMedia news, insider Maria Woods sold 12,058 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $3.77, for a total transaction of $45,458.66. Following the completion of the sale, the insider directly owned 163,162 shares in the company, valued at $615,120.74. The trade was a 6.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of National CineMedia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in shares of National CineMedia in the 2nd quarter worth $60,000. Citadel Advisors LLC grew its holdings in National CineMedia by 682.4% during the second 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 during the period. Wellington Management Group LLP increased its position in National CineMedia by 16.0% in the second quarter. Wellington Management Group LLP now owns 3,220,165 shares of the business services provider's stock worth $12,237,000 after buying an additional 444,984 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of National CineMedia in the second quarter worth about $2,653,000. Finally, Zazove Associates LLC raised its stake in shares of National CineMedia by 78.3% in the first quarter. Zazove Associates LLC now owns 458,939 shares of the business services provider's stock worth $1,400,000 after buying an additional 201,564 shares during the period. 69.49% of the stock is owned by hedge funds and other institutional investors.

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.

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