Fintel reports that on August 16, 2023, Benchmark upgraded their outlook for National Cinemedia (NASDAQ:NCMI) from Hold to Speculative Buy .
Analyst Price Forecast Suggests 85.63% Downside
As of August 2, 2023, the average one-year price target for National Cinemedia is 0.51. The forecasts range from a low of 0.50 to a high of $0.52. The average price target represents a decrease of 85.63% from its latest reported closing price of 3.55.
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The projected annual revenue for National Cinemedia is 339MM, an increase of 73.16%. The projected annual non-GAAP EPS is 0.01.
What is the Fund Sentiment?
There are 56 funds or institutions reporting positions in National Cinemedia. This is a decrease of 24 owner(s) or 30.00% in the last quarter. Average portfolio weight of all funds dedicated to NCMI is 0.01%, an increase of 41.21%. Total shares owned by institutions increased in the last three months by 24.61% to 29,208K shares. 
The put/call ratio of NCMI is 0.03, indicating a bullish outlook.
What are Other Shareholders Doing?
Standard General holds 12,932K shares representing 13.36% ownership of the company. No change in the last quarter.
Barclays holds 7,419K shares representing 7.67% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Millennium Management holds 2,523K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 2,337K shares, representing an increase of 7.37%. The firm decreased its portfolio allocation in NCMI by 32.85% over the last quarter.
Zazove Associates holds 1,265K shares representing 1.31% ownership of the company. No change in the last quarter.
RBF Capital holds 1,093K shares representing 1.13% ownership of the company. In it's prior filing, the firm reported owning 151K shares, representing an increase of 86.20%. The firm increased its portfolio allocation in NCMI by 1,485.90% over the last quarter.
National Cinemedia Background Information
(This description is provided by the company.)
National CineMedia (NCM) is America's Movie Network. As the largest cinema advertising network in the U.S., they unite brands with the power of movies and engage movie fans anytime and anywhere. NCM's Noovie pre-show is presented exclusively in 53 leading national and regional theater circuits including AMC Entertainment Inc. NCM's cinema advertising network offers broad reach and unparalleled audience engagement with over 20,400 screens in over 1,650 theaters in 190 Designated Market Areas® (all of the top 50). NCM Digital goes beyond the big screen, extending in-theater campaigns into online and mobile marketing programs to reach entertainment audiences. National CineMedia, Inc. owns a 48.0% interest in, and is the managing member of, National CineMedia, LLC.
Additional reading:
- DIRECTOR DESIGNATION AGREEMENT
- FIFTH AMENDMENT TO THE THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT OF NATIONAL CINEMEDIA, LLC
- LOAN, SECURITY AND GUARANTEE AGREEMENT Dated as of August 7, 2023 NATIONAL CINEMEDIA, LLC, and CERTAIN OTHER PERSONS FROM TIME TO TIME DESIGNATED AS A BORROWER HEREUNDER, as Borrowers, CERTAIN OTHER PERSONS FROM TIME TO TIME DESIGNATED AS A GUARANTOR
- CERTIFICATE OF DESIGNATION OF SERIES B NON-CONVERTIBLE PREFERRED STOCK OF NATIONAL CINEMEDIA, INC.
- National CineMedia Successfully Completes Financial Restructuring and Announces New Board of Directors Company Substantially Strengthens Capital Structure, Poised to Seize Opportunities with Financial Flexibility New Directors Bring Experience and Ex
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