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Catherine Sullivan, President of Sales & Marketing at National CineMedia, Inc. (NASDAQ:NCMI), recently sold 7,332 shares of the company's common stock. The transaction, which took place on December 26, amounted to a total value of $47,712, with shares sold at an average price of $6.5075 each. This sale was conducted to satisfy tax obligations following the vesting of restricted stock units. Post-transaction, Sullivan holds 11,753 shares directly. InvestingPro analysis indicates the stock is trading near its Fair Value, with additional insights available in the comprehensive Pro Research Report covering this cinema advertising leader. InvestingPro subscribers have access to 8 more key tips about NCMI's financial outlook and market position.
In other recent news, National CineMedia reported significant financial growth in its third quarter 2024 earnings. The company's total revenue reached $62.4 million, surpassing the projected $56 to $58 million. Additionally, the adjusted OIBDA was $8.8 million, exceeding the expected range of $6 to $8 million. The cinema industry's box office earnings were nearly $2.7 billion, with National CineMedia contributing significantly. The company's innovative advertising platforms and strategic initiatives have shown promising results. National CineMedia's advertising revenue from new sectors grew substantially, with tech up over ten times. Furthermore, the company's self-serve advertising solution saw a 96% sales increase quarter-over-quarter. Looking forward, National CineMedia projects Q4 revenue to be between $82 million and $86 million and adjusted OIBDA of $28 million to $30 million. These recent developments reflect the company's resilience and success in a competitive market.
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