National CineMedia (NASDAQ:NCMI) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of National CineMedia (NASDAQ:NCMI) from a neutral rating to an outperform rating in a report released on Friday morning, Marketbeat.com reports. They currently have $7.50 price objective on the business services provider’s stock.

A number of other research firms have also issued reports on NCMI. StockNews.com upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Benchmark reissued a “buy” rating and issued a $8.00 price objective on shares of National CineMedia in a research report on Friday, March 7th. Barrington Research decreased their target price on shares of National CineMedia from $8.25 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, William Blair reiterated a “neutral” rating and issued a $7.50 price target on shares of National CineMedia in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.70.

National CineMedia Price Performance

National CineMedia stock opened at $5.95 on Friday. National CineMedia has a 52 week low of $4.12 and a 52 week high of $7.60. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $6.54 and its 200 day simple moving average is $6.75. The firm has a market capitalization of $566.50 million, a PE ratio of -23.80 and a beta of 2.19.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Thursday, March 6th. The business services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. National CineMedia had a negative net margin of 9.49% and a negative return on equity of 2.61%. The business had revenue of $86.30 million for the quarter, compared to analyst estimates of $84.77 million. On average, equities research analysts predict that National CineMedia will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at National CineMedia

In related news, major shareholder Blantyre Capital Ltd acquired 103,685 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $5.18 per share, with a total value of $537,088.30. Following the purchase, the insider now directly owns 10,310,433 shares of the company’s stock, valued at approximately $53,408,042.94. This represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Maria Vg Woods sold 23,742 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $6.51, for a total transaction of $154,560.42. Following the sale, the executive vice president now directly owns 66,987 shares of the company’s stock, valued at $436,085.37. This represents a 26.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Trading of National CineMedia

Several institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC grew its stake in shares of National CineMedia by 5.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,936,947 shares of the business services provider’s stock valued at $48,905,000 after buying an additional 365,360 shares during the period. Wellington Management Group LLP grew its stake in shares of National CineMedia by 4.8% during the 4th quarter. Wellington Management Group LLP now owns 2,923,516 shares of the business services provider’s stock valued at $19,412,000 after buying an additional 132,895 shares during the period. Sycale Advisors NY LLC purchased a new stake in shares of National CineMedia during the 4th quarter valued at $14,147,000. Geode Capital Management LLC grew its stake in shares of National CineMedia by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,961,963 shares of the business services provider’s stock valued at $13,835,000 after buying an additional 15,605 shares during the period. Finally, State Street Corp boosted its position in National CineMedia by 23.8% during the 3rd quarter. State Street Corp now owns 1,157,488 shares of the business services provider’s stock worth $8,160,000 after purchasing an additional 222,498 shares during the period. 69.49% of the stock is owned by hedge funds and other institutional investors.

About National CineMedia

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.