NJ State Employees Deferred Compensation Plan lowered its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,000 shares of the business services provider’s stock after selling 31,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in National CineMedia were worth $254,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new position in shares of National CineMedia during the third quarter worth $141,000. Meeder Asset Management Inc. grew its stake in shares of National CineMedia by 2,980.3% during the third quarter. Meeder Asset Management Inc. now owns 24,519 shares of the business services provider’s stock worth $201,000 after purchasing an additional 23,723 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of National CineMedia by 11.9% during the second quarter. UBS Asset Management Americas Inc. now owns 53,359 shares of the business services provider’s stock worth $350,000 after purchasing an additional 5,675 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of National CineMedia by 24.7% during the second quarter. Cubist Systematic Strategies LLC now owns 39,347 shares of the business services provider’s stock worth $258,000 after purchasing an additional 7,801 shares in the last quarter. Finally, Jefferies Group LLC acquired a new position in shares of National CineMedia during the second quarter worth $339,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.
In other National CineMedia news, major shareholder General L.P. Standard bought 175,000 shares of National CineMedia stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $7.38 per share, with a total value of $1,291,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 527,000 shares of company stock valued at $4,001,060 in the last 90 days. 3.90% of the stock is currently owned by insiders.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. National CineMedia had a net margin of 8.12% and a negative return on equity of 36.78%. The company had revenue of $110.20 million during the quarter, compared to the consensus estimate of $113.07 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. National CineMedia’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, sell-side analysts predict that National CineMedia, Inc. will post 0.46 earnings per share for the current year.
NCMI has been the subject of several research analyst reports. BidaskClub upgraded shares of National CineMedia from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 23rd. Benchmark upped their price objective on shares of National CineMedia from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. ValuEngine upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley set a $10.00 price objective on shares of National CineMedia and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Zacks Investment Research downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $9.88.
National CineMedia Company Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.
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