StockNews.com Initiates Coverage on National CineMedia (NASDAQ:NCMI)

Posted by on Jun 17th, 2023

Analysts at StockNews.com began coverage on shares of National CineMedia (NASDAQ:NCMI – Get Rating) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the business services provider’s stock.

Separately, Wedbush dropped their price target on shares of National CineMedia to $3.50 and set an “outperform” rating for the company in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, National CineMedia presently has an average rating of “Hold” and an average target price of $2.00.

National CineMedia Trading Down 3.1 %

NASDAQ NCMI opened at $0.35 on Friday. National CineMedia has a 1-year low of $0.10 and a 1-year high of $1.85. The company has a 50 day moving average of $0.31 and a 200-day moving average of $0.28. The company has a market cap of $60.16 million, a price-to-earnings ratio of 6.91 and a beta of 1.89.

National CineMedia (NASDAQ:NCMI – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The firm had revenue of $34.90 million for the quarter, compared to the consensus estimate of $53.10 million. On average, equities research analysts forecast that National CineMedia will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of National CineMedia by 13.3% during the third quarter. Vanguard Group Inc. now owns 3,249,868 shares of the business services provider’s stock worth $2,117,000 after buying an additional 382,403 shares during the last quarter. Millennium Management LLC grew its stake in shares of National CineMedia by 1,126.3% during the fourth quarter. Millennium Management LLC now owns 2,336,927 shares of the business services provider’s stock worth $514,000 after buying an additional 2,146,354 shares during the last quarter. State Street Corp grew its stake in shares of National CineMedia by 2.9% during the first quarter. State Street Corp now owns 1,255,295 shares of the business services provider’s stock worth $3,188,000 after buying an additional 35,491 shares during the last quarter. Raymond James & Associates grew its stake in shares of National CineMedia by 12.2% during the first quarter. Raymond James & Associates now owns 504,410 shares of the business services provider’s stock worth $1,281,000 after buying an additional 54,985 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of National CineMedia by 4,022.3% during the first quarter. Jane Street Group LLC now owns 493,979 shares of the business services provider’s stock worth $65,000 after buying an additional 481,996 shares during the last quarter. 35.23% of the stock is owned by institutional investors.

National CineMedia Company Profile

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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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