National CineMedia (NCMI) Raised to Hold at ValuEngine
National CineMedia (NASDAQ:NCMI) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. B. Riley set a $9.00 price target on shares of National CineMedia and gave the stock a “hold” rating in a report on Tuesday, November 14th. J P Morgan Chase & Co lowered shares of National CineMedia from a “neutral” rating to an “underweight” rating and set a $5.00 price target on the stock. in a report on Wednesday, November 8th. Finally, Credit Suisse Group cut their price target on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.90.
Shares of National CineMedia (NASDAQ NCMI) traded up $0.04 during trading on Friday, reaching $6.29. 496,879 shares of the company’s stock were exchanged, compared to its average volume of 841,764. The company has a market cap of $490.63, a price-to-earnings ratio of 20.16, a PEG ratio of 2.39 and a beta of 0.63. National CineMedia has a 1-year low of $5.12 and a 1-year high of $15.80. The company has a debt-to-equity ratio of -14.71, a quick ratio of 1.76 and a current ratio of 1.76.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of National CineMedia stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of National CineMedia stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $6.49, for a total transaction of $18,172,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System boosted its stake in shares of National CineMedia by 29.7% during the 3rd quarter. California Public Employees Retirement System now owns 265,872 shares of the business services provider’s stock valued at $1,856,000 after purchasing an additional 60,872 shares in the last quarter. Oaktree Capital Management LP bought a new stake in shares of National CineMedia during the 3rd quarter valued at about $25,301,000. Western Standard LLC boosted its stake in shares of National CineMedia by 375.6% during the 3rd quarter. Western Standard LLC now owns 879,346 shares of the business services provider’s stock valued at $6,138,000 after purchasing an additional 694,446 shares in the last quarter. NWQ Investment Management Company LLC boosted its stake in shares of National CineMedia by 18.0% during the 3rd quarter. NWQ Investment Management Company LLC now owns 535,485 shares of the business services provider’s stock valued at $3,738,000 after purchasing an additional 81,605 shares in the last quarter. Finally, Vivaldi Asset Management LLC lifted its position in National CineMedia by 244.1% during the 3rd quarter. Vivaldi Asset Management LLC now owns 667,110 shares of the business services provider’s stock valued at $4,656,000 after acquiring an additional 473,232 shares during the period. 86.40% of the stock is currently owned by hedge funds and other institutional investors.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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