Benchmark Issues Pessimistic Forecast for National CineMedia (NASDAQ:NCMI) Stock Price

National CineMedia (NASDAQ:NCMI) had its price objective cut by research analysts at Benchmark from $7.00 to $6.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Benchmark’s price objective would suggest a potential upside of 57.48% from the stock’s current price.

Several other brokerages have also issued reports on NCMI. Wall Street Zen upgraded National CineMedia from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Wedbush reissued an “outperform” rating and set a $6.00 price objective (down previously from $7.00) on shares of National CineMedia in a report on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of National CineMedia in a research note on Monday, December 29th. Zacks Research raised National CineMedia from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Barrington Research lowered their price target on shares of National CineMedia from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.40.

National CineMedia Price Performance

NASDAQ NCMI opened at $3.81 on Wednesday. The company’s fifty day moving average is $4.06 and its two-hundred day moving average is $4.41. National CineMedia has a 52-week low of $3.73 and a 52-week high of $7.25. The firm has a market capitalization of $357.49 million, a price-to-earnings ratio of -25.40 and a beta of 1.35.

Insider Activity

In other news, EVP Maria Vg Woods sold 9,043 shares of the business’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $3.89, for a total value of $35,177.27. Following the sale, the executive vice president owned 129,330 shares in the company, valued at approximately $503,093.70. The trade was a 6.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On National CineMedia

A number of hedge funds have recently made changes to their positions in NCMI. Quantbot Technologies LP acquired a new position in National CineMedia in the third quarter valued at about $34,000. Strs Ohio acquired a new stake in shares of National CineMedia during the first quarter worth approximately $43,000. Inscription Capital LLC bought a new position in shares of National CineMedia in the third quarter valued at approximately $58,000. BNP Paribas Financial Markets raised its stake in shares of National CineMedia by 103.2% in the third quarter. BNP Paribas Financial Markets now owns 12,895 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 6,549 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of National CineMedia by 137.1% in the 2nd quarter. Legal & General Group Plc now owns 14,327 shares of the business services provider’s stock worth $69,000 after acquiring an additional 8,285 shares in the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.

About National CineMedia

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.