Nationwide Fund Advisors cut its position in National CineMedia, Inc. (NASDAQ:NCMI) by 42.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,321 shares of the business services provider’s stock after selling 26,900 shares during the quarter. Nationwide Fund Advisors owned 0.06% of National CineMedia worth $254,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Pacad Investment Ltd. raised its position in National CineMedia by 690.2% in the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 12,423 shares during the last quarter. DRW Securities LLC bought a new position in National CineMedia in the second quarter valued at about $142,000. Stifel Financial Corp raised its position in shares of National CineMedia by 30.5% during the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock worth $142,000 after acquiring an additional 4,468 shares during the last quarter. Legal & General Group Plc raised its position in shares of National CineMedia by 21.9% during the second quarter. Legal & General Group Plc now owns 25,026 shares of the business services provider’s stock worth $186,000 after acquiring an additional 4,490 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of National CineMedia by 3.5% during the second quarter. Citigroup Inc. now owns 25,190 shares of the business services provider’s stock worth $187,000 after acquiring an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Credit Suisse Group lowered their price objective on National CineMedia from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, September 28th. Zacks Investment Research downgraded National CineMedia from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. BidaskClub upgraded National CineMedia from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. B. Riley downgraded National CineMedia from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $8.75 in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. downgraded National CineMedia from a “neutral” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.90.
National CineMedia (NASDAQ:NCMI) last announced its earnings results on Monday, November 6th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $108.21 million. National CineMedia had a negative return on equity of 21.45% and a net margin of 4.81%. National CineMedia’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. equities research analysts expect that National CineMedia, Inc. will post 0.29 EPS for the current fiscal year.
In other National CineMedia news, major shareholder General L.P. Standard acquired 18,500 shares of the business’s stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $6.54 per share, with a total value of $120,990.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have purchased 810,940 shares of company stock worth $5,503,629. 5.40% of the stock is owned by insiders.
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About National CineMedia
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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