Red Spruce Capital LLC bought a new stake in National CineMedia, Inc. (NASDAQ:NCMI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 195,903 shares of the business services provider’s stock, valued at approximately $1,428,000. Red Spruce Capital LLC owned approximately 0.25% of National CineMedia as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in National CineMedia by 98.7% in the 2nd 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. Janney Montgomery Scott LLC bought a new stake in shares of National CineMedia during the 3rd quarter worth approximately $109,000. Envestnet Asset Management Inc. bought a new stake in shares of National CineMedia during the 3rd quarter worth approximately $141,000. Meeder Asset Management Inc. raised its stake in shares of National CineMedia by 2,980.3% during the 3rd 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. Finally, Cubist Systematic Strategies LLC raised its stake in shares of National CineMedia by 24.7% during the 2nd 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. Hedge funds and other institutional investors own 91.80% of the company’s stock.
NCMI opened at $7.58 on Thursday. National CineMedia, Inc. has a 1-year low of $5.64 and a 1-year high of $8.93. The stock’s fifty day simple moving average is $7.19 and its 200 day simple moving average is $7.49. The stock has a market cap of $607.78 million, a PE ratio of 20.49 and a beta of 0.67.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). National CineMedia had a net margin of 7.66% and a negative return on equity of 32.44%. The business had revenue of $110.50 million during the quarter, compared to the consensus estimate of $118.75 million. During the same quarter last year, the company posted $0.14 EPS. The firm’s revenue was up .4% on a year-over-year basis. Analysts predict that National CineMedia, Inc. will post 0.43 earnings per share for the current year.
A number of equities research analysts have recently issued reports on NCMI shares. BidaskClub cut National CineMedia from a “buy” rating to a “hold” rating in a research note on Thursday. Wedbush reiterated a “buy” rating and set a $9.00 price objective on shares of National CineMedia in a research note on Tuesday, November 5th. Zacks Investment Research upgraded National CineMedia from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. Barrington Research upgraded National CineMedia from a “market perform” rating to an “outperform” rating and set a $9.50 price objective on the stock in a research note on Thursday, November 7th. Finally, B. Riley cut National CineMedia from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $9.75 to $8.50 in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.70.
National CineMedia 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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