National CineMedia (NASDAQ:NCMI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “NATIONAL CINEMEDIA operates the largest digital in theatre network in North America that allows them to distribute advertisements and other content for our advertising, meetings and events businesses utilizing our proprietary digital content network. They have long term exhibitor services agreements with our founding members, Cinemark and Regal, the three largest motion picture exhibition companies in the U.S.and multi year agreements with several other theatre operators whom they refer to as network affiliates. The network affiliate agreements grant them exclusive rights, subject to limited exceptions, to sell advertising on their theatre screens. “
A number of other equities research analysts also recently commented on NCMI. BidaskClub downgraded shares of National CineMedia from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 17th. ValuEngine downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. B. Riley raised their price objective on shares of National CineMedia from $9.50 to $10.50 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, MKM Partners raised their price objective on shares of National CineMedia to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.38.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Monday, November 5th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. National CineMedia had a negative return on equity of 50.31% and a net margin of 1.82%. The firm had revenue of $110.10 million for the quarter, compared to analyst estimates of $117.48 million. During the same quarter last year, the company posted $0.21 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. As a group, analysts expect that National CineMedia will post 0.37 EPS for the current year.
In related news, President Clifford E. Marks sold 30,237 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $10.00, for a total value of $302,370.00. Following the completion of the sale, the president now owns 526,868 shares in the company, valued at $5,268,680. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder General L.P. Standard acquired 182,439 shares of National CineMedia stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average price of $8.59 per share, with a total value of $1,567,151.01. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in NCMI. Meeder Asset Management Inc. lifted its position in National CineMedia by 431.8% in the second quarter. Meeder Asset Management Inc. now owns 11,881 shares of the business services provider’s stock valued at $100,000 after purchasing an additional 9,647 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in National CineMedia in the second quarter valued at about $138,000. CAPROCK Group Inc. acquired a new stake in National CineMedia in the third quarter valued at about $148,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of National CineMedia during the 3rd quarter valued at approximately $176,000. Finally, HAP Trading LLC acquired a new stake in shares of National CineMedia during the 3rd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.
Further Reading: Return on Investment (ROI)
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