National CineMedia (NASDAQ:NCMI – Get Free Report) had its target price dropped by analysts at Wedbush from $6.50 to $6.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Wedbush’s target price would indicate a potential upside of 72.41% from the company’s previous close.
A number of other brokerages also recently commented on NCMI. B. Riley Financial lowered their target price on National CineMedia from $5.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Barrington Research dropped their price objective on shares of National CineMedia from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Finally, Weiss Ratings upgraded shares of National CineMedia from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.
View Our Latest Stock Report on NCMI
National CineMedia Trading Down 5.2%
National CineMedia (NASDAQ:NCMI – Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. National CineMedia had a negative net margin of 4.32% and a negative return on equity of 2.29%. As a group, research analysts forecast that National CineMedia will post 0.02 EPS for the current year.
Insider Buying and Selling
In other National CineMedia news, EVP Maria Vg Woods sold 12,066 shares of National CineMedia stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $3.04, for a total value of $36,680.64. Following the sale, the executive vice president owned 143,097 shares of the company’s stock, valued at approximately $435,014.88. The trade was a 7.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On National CineMedia
A number of hedge funds and other institutional investors have recently bought and sold shares of NCMI. Dimensional Fund Advisors LP increased its stake in shares of National CineMedia by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,997,905 shares of the business services provider’s stock valued at $6,094,000 after acquiring an additional 62,395 shares during the last quarter. Bank of New York Mellon Corp increased its position in National CineMedia by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 673,310 shares of the business services provider’s stock worth $2,054,000 after purchasing an additional 10,550 shares during the last quarter. Zazove Associates LLC raised its stake in National CineMedia by 42.8% during the fourth quarter. Zazove Associates LLC now owns 257,375 shares of the business services provider’s stock worth $1,001,000 after purchasing an additional 77,136 shares during the period. EVR Research LP acquired a new position in shares of National CineMedia in the 4th quarter valued at $389,000. Finally, Orbis Allan Gray Ltd boosted its holdings in shares of National CineMedia by 79.5% in the 4th quarter. Orbis Allan Gray Ltd now owns 9,523,889 shares of the business services provider’s stock valued at $37,048,000 after purchasing an additional 4,218,288 shares during the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.
About National CineMedia
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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