Investment analysts at StockNews.com started coverage on shares of National CineMedia (NASDAQ:NCMI – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the business services provider’s stock.
National CineMedia Stock Performance
Shares of NASDAQ NCMI opened at $0.14 on Thursday. The stock has a market capitalization of $11.34 million, a PE ratio of -0.43 and a beta of 1.88. The stock’s fifty day simple moving average is $0.21 and its two-hundred day simple moving average is $0.37. National CineMedia has a 12-month low of $0.10 and a 12-month high of $2.57.
Hedge Funds Weigh In On National CineMedia
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in National CineMedia in the 4th quarter worth about $29,000. Cubist Systematic Strategies LLC purchased a new position in National CineMedia in the 3rd quarter worth approximately $29,000. Renaissance Technologies LLC purchased a new position in National CineMedia in the 2nd quarter worth approximately $41,000. Byrne Asset Management LLC lifted its stake in National CineMedia by 36.0% in the 3rd quarter. Byrne Asset Management LLC now owns 85,950 shares of the business services provider’s stock worth $56,000 after purchasing an additional 22,741 shares in the last quarter. Finally, AEGON USA Investment Management LLC lifted its stake in National CineMedia by 31.6% in the 4th quarter. AEGON USA Investment Management LLC now owns 337,746 shares of the business services provider’s stock worth $74,000 after purchasing an additional 81,168 shares in the last quarter. Hedge funds and other institutional investors own 35.23% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc is a holding company. engages in the provision of advertising, business meetings, event services, and third-party theatre circuits under network affiliate agreements. The firm owns and operates the digital in-theatre network, which is used to distribute content for its advertising promotions, Fathom Events.
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