National CineMedia (NASDAQ:NCMI) Trading Up 7.6% – Here’s What Happened

National CineMedia, Inc. (NASDAQ:NCMI)’s share price shot up 7.6% during trading on Friday . The company traded as high as $6.67 and last traded at $6.74. 506,716 shares traded hands during mid-day trading, an increase of 0% from the average session volume of 506,602 shares. The stock had previously closed at $6.26.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NCMI shares. StockNews.com upgraded National CineMedia from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of National CineMedia in a report on Monday, September 23rd. Wedbush reissued a “neutral” rating and issued a $7.50 price target (up previously from $6.00) on shares of National CineMedia in a report on Monday, November 4th. Finally, Barrington Research upped their price objective on shares of National CineMedia from $7.50 to $8.25 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, National CineMedia presently has a consensus rating of “Moderate Buy” and an average price target of $8.06.

National CineMedia Stock Up 8.6 %

The business has a 50 day moving average of $6.75 and a 200 day moving average of $6.50. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.03.

National CineMedia (NASDAQ:NCMI) last posted its earnings results on Tuesday, November 5th. The business services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $58.20 million. National CineMedia had a negative return on equity of 2.61% and a negative net margin of 9.49%. During the same period in the prior year, the business posted $0.33 earnings per share. Sell-side analysts anticipate that National CineMedia, Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at National CineMedia

In other news, EVP Maria Vg Woods sold 23,742 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $6.51, for a total value of $154,560.42. Following the completion of the transaction, the executive vice president now owns 66,987 shares in the company, valued at $436,085.37. This trade represents a 26.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On National CineMedia

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in shares of National CineMedia in the 2nd quarter worth about $427,000. Charles Schwab Investment Management Inc. boosted its stake in National CineMedia by 240.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider’s stock worth $5,088,000 after acquiring an additional 509,756 shares in the last quarter. Kings Path Partners LLC purchased a new stake in National CineMedia in the fourth quarter worth about $408,000. Bank of New York Mellon Corp bought a new position in shares of National CineMedia during the second quarter valued at approximately $979,000. Finally, MetLife Investment Management LLC purchased a new position in shares of National CineMedia during the third quarter valued at approximately $292,000. Institutional investors own 69.49% of the company’s stock.

About National CineMedia

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.