National CineMedia (NASDAQ:NCMI) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

National CineMedia, Inc. (NASDAQ:NCMI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.27 and traded as high as $6.61. National CineMedia shares last traded at $6.48, with a volume of 389,140 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NCMI shares. StockNews.com upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Benchmark reaffirmed a “buy” rating and issued a $8.00 price objective on shares of National CineMedia in a research note on Monday, September 23rd. Barrington Research upped their target price on shares of National CineMedia from $7.50 to $8.25 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wedbush restated a “neutral” rating and issued a $7.50 price target (up from $6.00) on shares of National CineMedia in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.06.

National CineMedia Price Performance

The company’s 50 day simple moving average is $6.94 and its 200 day simple moving average is $6.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market cap of $639.73 million, a P/E ratio of -26.96 and a beta of 2.07.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $62.40 million during the quarter, compared to the consensus estimate of $58.20 million. National CineMedia had a negative net margin of 9.49% and a negative return on equity of 2.61%. During the same quarter in the prior year, the company earned $0.33 EPS. As a group, equities analysts forecast that National CineMedia, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On National CineMedia

Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC bought a new stake in National CineMedia during the 3rd quarter worth approximately $97,000. The Manufacturers Life Insurance Company acquired a new position in shares of National CineMedia in the second quarter valued at approximately $124,000. Hill Investment Group Partners LLC increased its position in shares of National CineMedia by 100.9% during the second quarter. Hill Investment Group Partners LLC now owns 34,392 shares of the business services provider’s stock worth $151,000 after acquiring an additional 17,276 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of National CineMedia by 7.9% during the second quarter. Squarepoint Ops LLC now owns 42,835 shares of the business services provider’s stock worth $188,000 after acquiring an additional 3,132 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of National CineMedia by 102.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 48,418 shares of the business services provider’s stock worth $213,000 after acquiring an additional 24,521 shares during the period. Institutional investors 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.