National CineMedia’s (NCMI) Neutral Rating Reaffirmed at Wedbush

Wedbush reiterated their neutral rating on shares of National CineMedia (NASDAQ:NCMI) in a report issued on Wednesday,RTT News reports. Wedbush currently has a $7.50 price objective on the business services provider’s stock.

Several other research firms also recently issued reports on NCMI. StockNews.com downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Monday. Barrington Research lifted their price target on shares of National CineMedia from $7.50 to $8.25 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.06.

National CineMedia Stock Performance

NASDAQ NCMI opened at $6.39 on Wednesday. The company has a fifty day simple moving average of $6.68 and a 200 day simple moving average of $6.82. National CineMedia has a 12-month low of $3.70 and a 12-month high of $7.60. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.03. The company has a market cap of $606.51 million, a P/E ratio of -25.56 and a beta of 2.06.

Insiders Place Their Bets

In other National CineMedia news, EVP Maria Vg Woods sold 23,742 shares of National CineMedia stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $6.51, for a total transaction of $154,560.42. Following the transaction, the executive vice president now directly owns 66,987 shares of the company’s stock, valued at $436,085.37. The trade was a 26.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On National CineMedia

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kings Path Partners LLC purchased a new position in shares of National CineMedia in the 4th quarter worth about $408,000. Charles Schwab Investment Management Inc. raised its stake in National CineMedia by 240.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider’s stock valued at $5,088,000 after acquiring an additional 509,756 shares during the period. MetLife Investment Management LLC bought a new stake in National CineMedia in the 3rd quarter valued at about $292,000. State Street Corp raised its stake in National CineMedia by 23.8% in the 3rd quarter. State Street Corp now owns 1,157,488 shares of the business services provider’s stock valued at $8,160,000 after acquiring an additional 222,498 shares during the period. Finally, SG Americas Securities LLC raised its stake in National CineMedia by 39.7% in the 4th quarter. SG Americas Securities LLC now owns 43,210 shares of the business services provider’s stock valued at $287,000 after acquiring an additional 12,281 shares during the period. 69.49% of the stock is owned by hedge funds and other institutional investors.

National CineMedia Company Profile

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 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.