National CineMedia (NASDAQ:NCMI) Coverage Initiated at StockNews.com

Posted by on Jul 19th, 2023

Investment analysts at StockNews.com began coverage on shares of National CineMedia (NASDAQ:NCMI – Get Free Report) in a report issued on Wednesday. The firm set a “sell” rating on the business services provider’s stock.

Separately, Wedbush cut their target price on National CineMedia to $3.50 and set an “outperform” rating on the stock in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, National CineMedia has an average rating of “Hold” and an average price target of $2.00.

National CineMedia Stock Down 3.7 %

NCMI stock opened at $0.34 on Wednesday. The firm’s 50 day moving average price is $0.32 and its 200-day moving average price is $0.27. National CineMedia has a one year low of $0.10 and a one year high of $1.85.

National CineMedia (NASDAQ:NCMI – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The business services provider reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The firm had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $53.10 million. As a group, research analysts expect that National CineMedia will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National CineMedia

Several institutional investors have recently modified their holdings of NCMI. Raymond James & Associates grew its stake in shares of National CineMedia by 12.2% in the first quarter. Raymond James & Associates now owns 504,410 shares of the business services provider’s stock worth $1,281,000 after acquiring an additional 54,985 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of National CineMedia by 6.0% in the first quarter. Vanguard Group Inc. now owns 3,121,904 shares of the business services provider’s stock worth $7,930,000 after acquiring an additional 176,781 shares in the last quarter. XTX Topco Ltd grew its stake in shares of National CineMedia by 130.9% in the first quarter. XTX Topco Ltd now owns 48,263 shares of the business services provider’s stock worth $123,000 after acquiring an additional 27,363 shares in the last quarter. UBS Group AG grew its stake in shares of National CineMedia by 112.9% in the first quarter. UBS Group AG now owns 48,361 shares of the business services provider’s stock worth $123,000 after acquiring an additional 25,650 shares in the last quarter. Finally, State Street Corp grew its stake in shares of National CineMedia by 2.9% in the first quarter. State Street Corp now owns 1,255,295 shares of the business services provider’s stock worth $3,188,000 after acquiring an additional 35,491 shares in the last quarter. Institutional investors and hedge funds own 35.23% of the company’s stock.

National CineMedia Company Profile

(Get Free Report)

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 pre-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.

Featured Articles

Receive News & Ratings for National CineMedia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National CineMedia and related companies with MarketBeat.com's FREE daily email newsletter.