National CineMedia (NCMI) Shares Down 6.7%

Shares of National CineMedia, Inc. (NASDAQ:NCMI) fell 6.7% during trading on Monday . The stock traded as low as $7.52 and last traded at $8.03. 1,288,818 shares traded hands during mid-day trading, an increase of 102% from the average session volume of 639,213 shares. The stock had previously closed at $8.61.

Several research firms recently commented on NCMI. BidaskClub cut National CineMedia from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded National CineMedia from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, October 10th. B. Riley raised their target price on National CineMedia from $10.50 to $11.50 and gave the company a “buy” rating in a research report on Monday, September 24th. MKM Partners raised their target price on National CineMedia to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Finally, ValuEngine upgraded National CineMedia from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. National CineMedia currently has an average rating of “Hold” and a consensus target price of $9.30.

The stock has a market cap of $680.15 million, a PE ratio of 20.09 and a beta of 0.83.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, August 6th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). National CineMedia had a net margin of 1.40% and a negative return on equity of 50.95%. The firm had revenue of $113.70 million for the quarter, compared to analyst estimates of $108.48 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that National CineMedia, Inc. will post 0.38 earnings per share for the current fiscal year.

In other news, major shareholder General L.P. Standard purchased 46,439 shares of the stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $8.55 per share, for a total transaction of $397,053.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Clifford E. Marks sold 30,237 shares of National CineMedia stock in a transaction on Monday, September 24th. The shares were sold at an average price of $10.00, for a total value of $302,370.00. Following the transaction, the president now owns 526,868 shares in the company, valued at $5,268,680. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NCMI. BlackRock Inc. grew its holdings in shares of National CineMedia by 21.4% in the 2nd quarter. BlackRock Inc. now owns 5,297,552 shares of the business services provider’s stock worth $44,498,000 after acquiring an additional 934,901 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of National CineMedia by 670.9% in the 2nd quarter. Acadian Asset Management LLC now owns 435,817 shares of the business services provider’s stock worth $3,660,000 after acquiring an additional 379,280 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of National CineMedia in the 2nd quarter worth $2,890,000. Columbia Partners L L C Investment Management grew its holdings in shares of National CineMedia by 168.9% in the 2nd quarter. Columbia Partners L L C Investment Management now owns 423,799 shares of the business services provider’s stock worth $3,559,000 after acquiring an additional 266,214 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of National CineMedia by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,269,666 shares of the business services provider’s stock worth $11,780,000 after acquiring an additional 222,357 shares during the last quarter. Institutional investors and hedge funds own 84.12% of the company’s stock.

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About National CineMedia (NASDAQ:NCMI)

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.

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