The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. National CineMedia Inc. shares valued at $4,065,201 were sold by Standard General L.P. on Sep 07. At $0.90 per share, Standard General L.P. sold 4,516,890 shares. The insider’s holdings dropped to 12,932,382 shares worth approximately $11.64 million following the completion of this transaction.
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Also, Lesinski Thomas F. sold 31,536 shares, netting a total of over 56,134 in proceeds. Following the sale of shares at $1.78 each, the insider now holds 315,717 shares.
Before that, Felenstein Scott D had sold 381 shares from its account. In a trade valued at $358, the President – Sales & Marketing traded National CineMedia Inc. shares for $0.94 each. Upon closing the transaction, the insider’s holdings decreased to 381 shares, worth approximately $0.16 million.
As published in a research note from B. Riley Securities on June 21, 2022, National CineMedia Inc. [NCMI] has been rated down from a Buy to a Neutral and the price target has been revised to $1.50 from $4. This represents a 40.0% premium over Thursday’s closing price. Analysts at Wedbush upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early November. As of April 07, 2021, The Benchmark Company has increased its “Hold” rating to a “Buy” for NCMI. Earlier on October 12, 2020, B. Riley Securities resumed its rating. Their recommendation was “a Buy” for NCMI stock.
Analyzing NCMI’s Price Performance
On Thursday, National CineMedia Inc. [NASDAQ: NCMI] plunged -0.94% to $0.90. The stock’s lowest price that day was $0.8726, but it reached a high of $0.94 in the same session. During the last five days, there has been a drop of approximately -15.42%. Over the course of the year, National CineMedia Inc. shares have dropped approximately -67.79%. Shares of the company reached a 52-week high of $3.4094 on 02/16/22 and a 52-week low of $0.8726 on 09/22/22. A 50-day SMA is recorded $1.2971, while a 200-day SMA reached $1.9922. Nevertheless, trading volume fell to 1.42 million shares from 0.42 million shares the previous day.
Support And Resistance Levels for National CineMedia Inc. (NCMI)
According to the 24-hour chart, there is a support level at 0.8717, which, if violated, would cause prices to drop to 0.8385. In the upper region, resistance lies at 0.9391. The next price resistance is at 0.9733. RSI (Relative Strength Index) is 31.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1101, which suggests the price will decrease in the coming days. Percent R is at 91.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is National CineMedia Inc. subject to short interest?
Stocks of National CineMedia Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.14 million shares to 3.26 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.4 million shares. A decline of -34.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.61 of the overall float, the days-to-cover ratio (short ratio) decline to 2.61.
Which companies own the most shares of National CineMedia Inc. (NCMI)?
According to Standard General LP filings, the company currently owns 12,932,382 shares, which is about 15.79% of the total NCMI shares outstanding. The investor’s shares have plunged by -4,516,890 from its previous 13-F filing of 17449272.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $3,528,935. BlackRock Fund Advisors reduced a -68.09% interest valued at $1.48 million while Brookstone Capital Management LLC purchased a 638,641 stake. A total of 175,453 shares of National CineMedia Inc. were bought by RBF Capital LLC during the quarter, and 481,730 were bought by Millennium Management LLC. In its current portfolio, Littlejohn & Co. LLC holds 674,878 shares valued at $0.84 million.
In terms of National CineMedia Inc. share price expectations, FactSet research, analysts set an average price target of $3.50 in the next 12 months, up nearly 312.09% from the previous closing price of $0.91. Analysts anticipate National CineMedia Inc. stock to reach $5.00 by 2022, with the lowest price target being $1.50. In spite of this, 4 analysts ranked National CineMedia Inc. stock as an Overweight at the end of 2022. On September 04, 2020, Barrington Research assigned a price target of “an Outperform” to the stock and upgraded coverage with a $5.50.