National CineMedia (NASDAQ:NCMI) Reaches New 52-Week High at $7.11

National CineMedia, Inc. (NASDAQ:NCMI) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.11 and last traded at $7.01, with a volume of 130171 shares trading hands. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

NCMI has been the subject of a number of research analyst reports. B. Riley lifted their price target on National CineMedia from $7.50 to $8.50 and gave the company a “buy” rating in a report on Friday, August 16th. Barrington Research raised shares of National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Tuesday, August 6th. Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of National CineMedia in a research note on Tuesday, August 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 price objective on shares of National CineMedia in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.50.

National CineMedia Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market cap of $667.32 million, a price-to-earnings ratio of 0.20 and a beta of 2.08. The firm has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $5.33.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $54.70 million during the quarter, compared to analyst estimates of $49.87 million. National CineMedia had a net margin of 78.04% and a return on equity of 3.50%. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, sell-side analysts expect that National CineMedia, Inc. will post -0.02 EPS for the current year.

Institutional Investors Weigh In On National CineMedia

A number of hedge funds and other institutional investors have recently made changes to their positions in NCMI. First Eagle Investment Management LLC raised its holdings in shares of National CineMedia by 37.6% in the first quarter. First Eagle Investment Management LLC now owns 1,966,355 shares of the business services provider’s stock valued at $10,127,000 after purchasing an additional 537,822 shares during the last quarter. Wellington Management Group LLP grew its position in shares of National CineMedia by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 1,336,947 shares of the business services provider’s stock valued at $5,535,000 after acquiring an additional 187,613 shares during the period. Harbor Capital Advisors Inc. raised its stake in National CineMedia by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 208,649 shares of the business services provider’s stock valued at $916,000 after buying an additional 152,251 shares during the period. Bank of New York Mellon Corp bought a new stake in National CineMedia in the 2nd quarter valued at $979,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in National CineMedia by 38.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 6,690 shares during the last quarter. 69.49% of the stock is currently owned by institutional investors and hedge funds.

National CineMedia Company Profile

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.