National CineMedia (NASDAQ:NCMI) Sets New 52-Week High – Here’s What Happened

National CineMedia, Inc. (NASDAQ:NCMI) reached a new 52-week high during trading on Monday . The stock traded as high as $7.32 and last traded at $7.26, with a volume of 140438 shares. The stock had previously closed at $7.11.

Analysts Set New Price Targets

A number of brokerages recently commented on NCMI. Barrington Research upgraded shares of National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Tuesday, August 6th. Wedbush reissued a “neutral” rating and set a $6.00 target price on shares of National CineMedia in a research report on Tuesday, August 6th. B. Riley upped their price target on National CineMedia from $7.50 to $8.50 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Benchmark restated a “buy” rating and set a $8.00 price objective on shares of National CineMedia in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.50.

National CineMedia Stock Down 0.4 %

The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $692.41 million, a price-to-earnings ratio of 2.68 and a beta of 2.08. The business’s fifty day moving average price is $6.86 and its 200 day moving average price is $5.68.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Monday, August 5th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). National CineMedia had a return on equity of 3.50% and a net margin of 78.04%. The company had revenue of $54.70 million for the quarter, compared to analysts’ expectations of $49.87 million. During the same period in the prior year, the business earned ($0.07) EPS. On average, equities analysts expect that National CineMedia, Inc. will post -0.04 EPS for the current year.

Institutional Trading of National CineMedia

Several hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in National CineMedia by 38.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock worth $123,000 after purchasing an additional 6,690 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of National CineMedia by 37.6% in the 1st quarter. First Eagle Investment Management LLC now owns 1,966,355 shares of the business services provider’s stock worth $10,127,000 after acquiring an additional 537,822 shares during the period. Vanguard Group Inc. increased its stake in National CineMedia by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,584,556 shares of the business services provider’s stock valued at $18,460,000 after purchasing an additional 18,347 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in National CineMedia during the first quarter worth $298,000. Finally, Gendell Jeffrey L acquired a new stake in National CineMedia in the first quarter valued at $2,352,000. Institutional investors and hedge funds 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.