National CineMedia (NASDAQ:NCMI) Reaches New 52-Week High at $7.01

National CineMedia, Inc. (NASDAQ:NCMI)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $7.01 and last traded at $6.97, with a volume of 309724 shares. The stock had previously closed at $6.85.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. B. Riley lifted their target price on National CineMedia from $7.50 to $8.50 and gave the company a “buy” rating in a research 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 price objective on the stock in a report on Tuesday, August 6th. Benchmark reiterated a “speculative buy” rating and issued a $6.00 target price on shares of National CineMedia in a research note on Tuesday, August 6th. Finally, Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of National CineMedia in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, National CineMedia presently has an average rating of “Hold” and a consensus target price of $7.00.

National CineMedia Stock Performance

The firm has a market cap of $676.01 million, a PE ratio of 0.21 and a beta of 2.08. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $6.16 and a two-hundred day simple moving average of $5.25.

National CineMedia (NASDAQ:NCMI) last issued 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 company had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $49.87 million. National CineMedia had a return on equity of 3.50% and a net margin of 78.04%. During the same period last year, the firm posted ($0.07) earnings per share. As a group, equities research analysts forecast that National CineMedia, Inc. will post -0.02 earnings per share for the current year.

Institutional Trading of National CineMedia

Several hedge funds have recently made changes to their positions in NCMI. SG Americas Securities LLC purchased a new stake in National CineMedia in the 2nd quarter worth about $56,000. Fermata Advisors LLC purchased a new position in shares of National CineMedia in the second quarter worth about $92,000. Bayesian Capital Management LP bought a new stake in shares of National CineMedia in the first quarter valued at approximately $104,000. Oppenheimer Asset Management Inc. lifted its stake in shares of 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 buying an additional 6,690 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in National CineMedia in the 2nd quarter worth approximately $124,000. 69.49% of the stock is currently owned by institutional investors.

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.