Benchmark Has Lowered Expectations for National CineMedia (NASDAQ:NCMI) Stock Price

National CineMedia (NASDAQ:NCMI) had its target price lowered by Benchmark from $7.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Benchmark’s target price indicates a potential upside of 57.27% from the stock’s current price.

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

National CineMedia Trading Down 5.1%

NASDAQ NCMI traded down $0.21 on Wednesday, hitting $3.82. The company’s stock had a trading volume of 103,123 shares, compared to its average volume of 287,787. The company’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $4.41. National CineMedia has a 52-week low of $3.77 and a 52-week high of $7.25. The firm has a market cap of $357.96 million, a P/E ratio of -25.40 and a beta of 1.35.

Insiders Place Their Bets

In other National CineMedia news, EVP Maria Vg Woods sold 9,043 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $3.89, for a total value of $35,177.27. Following the completion of the sale, the executive vice president owned 129,330 shares in the company, valued at approximately $503,093.70. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NCMI. Strs Ohio purchased a new stake in National CineMedia during the first quarter valued at $43,000. Quantbot Technologies LP bought a new stake in shares of National CineMedia in the 3rd quarter worth about $34,000. BNP Paribas Financial Markets lifted its holdings in shares of National CineMedia by 103.2% in the 3rd 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. Inscription Capital LLC bought a new position in shares of National CineMedia in the 3rd quarter valued at about $58,000. Finally, Legal & General Group Plc grew its position in National CineMedia by 137.1% in the second 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 own 69.49% of the company’s stock.

National CineMedia Company Profile

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.