Invesco Ltd. lowered its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 12.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779,262 shares of the business services provider’s stock after selling 112,483 shares during the quarter. Invesco Ltd. owned about 0.99% of National CineMedia worth $5,112,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. APG Asset Management N.V. acquired a new position in shares of National CineMedia during the second quarter valued at about $698,000. Aptus Capital Advisors LLC increased its holdings in shares of National CineMedia by 18.6% during the second quarter. Aptus Capital Advisors LLC now owns 74,700 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 11,700 shares in the last quarter. Northern Trust Corp increased its holdings in shares of National CineMedia by 0.9% during the second quarter. Northern Trust Corp now owns 1,531,295 shares of the business services provider’s stock valued at $10,046,000 after acquiring an additional 13,738 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of National CineMedia by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,656,487 shares of the business services provider’s stock valued at $10,867,000 after acquiring an additional 9,180 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of National CineMedia by 98.7% during the second quarter. Bank of Montreal Can now owns 10,883 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 5,406 shares in the last quarter. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Several research firms have recently issued reports on NCMI. 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 report on Wednesday, September 18th. Zacks Investment Research downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. BidaskClub upgraded shares of National CineMedia from a “buy” rating to a “strong-buy” rating in a report on Monday, September 23rd. B. Riley set a $10.00 price objective on shares of National CineMedia and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Wedbush upgraded National CineMedia from a “neutral” rating to an “outperform” rating and set a $8.00 target price on the stock in a research report on Wednesday, June 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $9.88.
In other news, major shareholder General L.P. Standard bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were purchased at an average price of $7.07 per share, for a total transaction of $212,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 527,000 shares of company stock worth $4,001,060. 3.90% of the stock is owned by insiders.
Shares of NASDAQ NCMI opened at $8.25 on Friday. The business’s 50 day moving average price is $8.15 and its 200 day moving average price is $7.30. The firm has a market cap of $649.56 million, a P/E ratio of 17.50 and a beta of 0.72. National CineMedia, Inc. has a 52 week low of $5.88 and a 52 week high of $9.64.
National CineMedia (NASDAQ:NCMI) last issued its earnings results on Monday, August 5th. The business services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The firm had revenue of $110.20 million for the quarter, compared to analyst estimates of $113.07 million. National CineMedia had a negative return on equity of 36.78% and a net margin of 8.12%. National CineMedia’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, sell-side analysts anticipate that National CineMedia, Inc. will post 0.46 earnings per share for the current year.
About National CineMedia
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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