National CineMedia (NASDAQ:NCMI) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of National CineMedia (NASDAQ:NCMI) from a neutral rating to an outperform rating in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has $7.50 price target on the business services provider’s stock.

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

National CineMedia Price Performance

NCMI opened at $5.95 on Friday. The company has a market capitalization of $566.50 million, a P/E ratio of -23.80 and a beta of 2.19. The company has a 50-day moving average of $6.54 and a 200-day moving average of $6.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.46 and a current ratio of 2.46. National CineMedia has a 1-year low of $4.05 and a 1-year high of $7.60.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Thursday, March 6th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $84.77 million. National CineMedia had a negative return on equity of 2.61% and a negative net margin of 9.49%. Equities analysts expect that National CineMedia will post -0.12 EPS for the current fiscal year.

Insider Activity at National CineMedia

In related news, major shareholder Blantyre Capital Ltd purchased 103,685 shares of the company’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $5.18 per share, for a total transaction of $537,088.30. Following the transaction, the insider now owns 10,310,433 shares of the company’s stock, valued at $53,408,042.94. This represents a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Maria Vg Woods sold 23,742 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $6.51, for a total transaction of $154,560.42. Following the completion of the sale, the executive vice president now directly owns 66,987 shares of the company’s stock, valued at approximately $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 owned by insiders.

Hedge Funds Weigh In On National CineMedia

Several hedge funds have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of National CineMedia in the 4th quarter worth approximately $53,000. BNP Paribas Financial Markets acquired a new position in National CineMedia in the fourth quarter worth approximately $57,000. DRW Securities LLC bought a new position in shares of National CineMedia in the fourth quarter valued at $73,000. Quarry LP acquired a new stake in shares of National CineMedia during the 4th quarter valued at $91,000. Finally, Ieq Capital LLC bought a new stake in shares of National CineMedia during the 4th quarter worth $93,000. 69.49% of the stock is currently owned by institutional investors and hedge funds.

National CineMedia Company Profile

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.