Oil prices hold sharp losses with focus on secondary India tariffs
Thomas F. Lesinski, the Chief Executive Officer of National CineMedia, Inc. (NASDAQ:NCMI), recently sold 167,406 shares of the company's common stock. The shares were sold on December 26 at an average price of $6.5075 per share, amounting to a total transaction value of approximately $1.09 million. The transaction comes amid a strong year for NCMI, with the stock delivering a remarkable 59.66% return over the past year and currently trading near $6.47.
Prior to this sale, Lesinski acquired 310,000 shares as part of a vesting of restricted stock units, which did not involve any cash transaction. Following these transactions, Lesinski holds 229,415 shares directly.
These actions were disclosed in a Form 4 filed with the Securities and Exchange Commission, detailing the transactions and their impact on Lesinski’s holdings in the company.
In other recent news, National CineMedia reported robust third-quarter earnings for 2024, with total revenue reaching $62.4 million, surpassing the projected range of $56 million to $58 million. The company's adjusted OIBDA also exceeded expectations, standing at $8.8 million, above the estimated $6 million to $8 million.
The cinema industry witnessed box office earnings of nearly $2.7 billion, with National CineMedia making a significant contribution through successful hits like Deadpool & Wolverine and Despicable Me 4. The company's innovative advertising platforms and strategic initiatives have shown promising results, positioning it favorably in the evolving advertising landscape.
National CineMedia's advertising revenue from new sectors like tech, retail, and pharma grew significantly, with tech up over 10 times. The company's self-serve advertising solution saw a 96% sales increase quarter-over-quarter. Despite a 10% year-over-year decline in revenue due to a mix of G and PG-rated films impacting attendance, the company remains optimistic about its future performance.
For the fourth quarter of 2024, National CineMedia anticipates revenue between $82 million and $86 million, with an adjusted OIBDA of $28 million to $30 million. The company plans to expand its programmatic and self-serve offerings to capture new demand channels and is optimistic about a strong film slate anticipated for 2025 and robust box office growth. These are among the recent developments for National CineMedia.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.