National CineMedia (NASDAQ:NCMI) Cut to “Hold” at BidaskClub

National CineMedia (NASDAQ:NCMI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BidAskClub reports.

NCMI has been the topic of a number of other reports. B. Riley downgraded shares of National CineMedia from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.75 to $8.50 in a research note on Tuesday. Benchmark lifted their target price on shares of National CineMedia from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Zacks Investment Research downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wedbush reaffirmed a “buy” rating and set a $9.00 target price on shares of National CineMedia in a research note on Tuesday. Finally, ValuEngine downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $9.75.

Shares of NASDAQ:NCMI traded up $0.35 during midday trading on Wednesday, hitting $7.40. The company’s stock had a trading volume of 21,385 shares, compared to its average volume of 295,117. The business’s 50 day simple moving average is $8.37 and its 200 day simple moving average is $7.43. The company has a market cap of $667.33 million, a P/E ratio of 19.97 and a beta of 0.70. National CineMedia has a 12-month low of $5.64 and a 12-month high of $8.93.

National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.01). The business had revenue of $110.50 million during the quarter, compared to analysts’ expectations of $118.75 million. National CineMedia had a negative return on equity of 36.78% and a net margin of 8.12%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. Sell-side analysts forecast that National CineMedia will post 0.46 EPS for the current year.

In related news, major shareholder General L.P. Standard purchased 175,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $7.38 per share, for a total transaction of $1,291,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have acquired 527,000 shares of company stock valued at $4,001,060. Company insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NCMI. Acadian Asset Management LLC acquired a new position in shares of National CineMedia in the second quarter valued at approximately $32,000. Chicago Equity Partners LLC acquired a new position in National CineMedia during the 2nd quarter worth approximately $70,000. Bank of Montreal Can grew its holdings in National CineMedia by 98.7% during the 2nd quarter. Bank of Montreal Can now owns 10,883 shares of the business services provider’s stock worth $72,000 after acquiring an additional 5,406 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in National CineMedia during the 3rd quarter worth approximately $109,000. Finally, Envestnet Asset Management Inc. acquired a new position in National CineMedia during the 3rd quarter worth approximately $141,000. Institutional investors and hedge funds own 88.61% of the company’s stock.

About National CineMedia

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company 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.

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