Benchmark Cuts National CineMedia (NASDAQ:NCMI) Price Target to $6.00

National CineMedia (NASDAQ:NCMI) had its target price cut by Benchmark from $7.00 to $6.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Zacks Research raised National CineMedia from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 18th. Barrington Research dropped their target price on National CineMedia from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of National CineMedia in a research report on Monday, December 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 price target (down previously from $7.00) on shares of National CineMedia in a research report on Friday, October 31st. 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 company’s stock. According to MarketBeat, National CineMedia has a consensus rating of “Hold” and an average price target of $6.40.

National CineMedia Price Performance

NASDAQ NCMI opened at $3.81 on Wednesday. The firm’s 50 day moving average is $4.04 and its 200-day moving average is $4.40. The company has a market capitalization of $357.49 million, a PE ratio of -25.40 and a beta of 1.35. National CineMedia has a 12-month low of $3.73 and a 12-month high of $7.25.

National CineMedia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, November 10th. National CineMedia’s dividend payout ratio is currently -80.00%.

Insiders Place Their Bets

In other news, EVP Maria Vg Woods sold 9,043 shares of National CineMedia stock in a transaction on Monday, December 29th. The stock was sold at an average price of $3.89, for a total transaction of $35,177.27. Following the completion of the sale, the executive vice president owned 129,330 shares of the company’s stock, valued at approximately $503,093.70. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On National CineMedia

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in National CineMedia by 2.2% in the 2nd quarter. American Century Companies Inc. now owns 145,233 shares of the business services provider’s stock worth $704,000 after purchasing an additional 3,110 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of National CineMedia by 103.2% during the third quarter. BNP Paribas Financial Markets now owns 12,895 shares of the business services provider’s stock worth $58,000 after purchasing an additional 6,549 shares during the period. Strs Ohio acquired a new stake in shares of National CineMedia in the first quarter valued at approximately $43,000. Quantbot Technologies LP bought a new stake in shares of National CineMedia in the third quarter valued at approximately $34,000. Finally, Legal & General Group Plc boosted its stake in shares of 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 valued at $69,000 after buying an additional 8,285 shares during the period. 69.49% of the stock is owned by institutional investors.

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.