National CineMedia, Inc. (NCMI) Holdings Lifted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. grew its position in National CineMedia, Inc. (NASDAQ:NCMI) by 13.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462,379 shares of the business services provider’s stock after buying an additional 55,570 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.76% of National CineMedia worth $3,431,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in NCMI. Fox Run Management L.L.C. acquired a new position in shares of National CineMedia in the second quarter worth about $137,000. Quantitative Systematic Strategies LLC acquired a new position in shares of National CineMedia in the second quarter worth about $159,000. Oppenheimer Asset Management Inc. acquired a new position in shares of National CineMedia in the first quarter worth about $161,000. Stifel Financial Corp acquired a new position in shares of National CineMedia in the first quarter worth about $186,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of National CineMedia by 4,826.1% in the second quarter. Nisa Investment Advisors LLC now owns 33,990 shares of the business services provider’s stock worth $259,000 after buying an additional 33,300 shares during the period. Institutional investors own 85.72% of the company’s stock.
In related news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $6.49, for a total value of $18,172,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.
Shares of National CineMedia, Inc. (NASDAQ NCMI) opened at 6.93 on Thursday. The company’s 50 day moving average is $6.54 and its 200 day moving average is $7.83. The firm has a market capitalization of $420.06 million, a PE ratio of 21.66 and a beta of 0.68. National CineMedia, Inc. has a 12-month low of $5.12 and a 12-month high of $16.05.
National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The business had revenue of $97.10 million during the quarter, compared to analyst estimates of $104.30 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. National CineMedia’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, analysts forecast that National CineMedia, Inc. will post $0.29 earnings per share for the current year.
Several research analysts have commented on the stock. BidaskClub cut shares of National CineMedia from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. B. Riley reiterated a “buy” rating and issued a $14.00 target price on shares of National CineMedia in a report on Wednesday, August 2nd. Wedbush assumed coverage on shares of National CineMedia in a report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price for the company. Credit Suisse Group decreased their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, September 28th. Finally, Zacks Investment Research cut shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.93.
National CineMedia Company Profile
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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