BidaskClub Upgrades National CineMedia (NCMI) to Strong-Buy
BidaskClub upgraded shares of National CineMedia (NASDAQ:NCMI) from a buy rating to a strong-buy rating in a report issued on Friday morning.
Several other equities research analysts have also recently weighed in on the stock. MKM Partners increased their price objective on shares of National CineMedia to $9.00 and gave the stock a neutral rating in a research report on Tuesday, August 7th. B. Riley increased their price objective on shares of National CineMedia from $9.50 to $10.50 and gave the stock a buy rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of National CineMedia from a sell rating to a hold rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research cut shares of National CineMedia from a strong-buy rating to a hold rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $8.50.
Shares of NASDAQ NCMI opened at $8.93 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of -9.88. National CineMedia has a 52-week low of $5.09 and a 52-week high of $9.30. The company has a market capitalization of $684.10 million, a price-to-earnings ratio of 22.33 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Thursday, August 16th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 7.61%. The ex-dividend date of this dividend is Wednesday, August 15th. National CineMedia’s dividend payout ratio (DPR) is presently 170.00%.
In related news, major shareholder General L.P. Standard purchased 29,500 shares of National CineMedia stock in a transaction on Friday, June 29th. The stock was acquired at an average cost of $8.53 per share, for a total transaction of $251,635.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Amc Starplex, Llc sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $7.23, for a total transaction of $7,230,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 555,978 shares of company stock valued at $4,394,271. 2.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of NCMI. Wells Fargo & Company MN grew its holdings in National CineMedia by 37.8% in the fourth quarter. Wells Fargo & Company MN now owns 118,471 shares of the business services provider’s stock worth $813,000 after purchasing an additional 32,474 shares during the period. Millennium Management LLC grew its holdings in National CineMedia by 199.9% in the fourth quarter. Millennium Management LLC now owns 587,954 shares of the business services provider’s stock worth $4,033,000 after purchasing an additional 391,896 shares during the period. MetLife Investment Advisors LLC acquired a new stake in National CineMedia in the fourth quarter worth $113,000. Global X Management Co. LLC acquired a new stake in National CineMedia in the first quarter worth $12,590,000. Finally, NJ State Employees Deferred Compensation Plan grew its holdings in National CineMedia by 87.5% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 75,000 shares of the business services provider’s stock worth $389,000 after purchasing an additional 35,000 shares during the period. Institutional investors and hedge funds own 79.15% 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.
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