Renaissance Technologies LLC Reduces Stock Holdings in National CineMedia, Inc. (NASDAQ:NCMI)

Renaissance Technologies LLC lessened its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,400 shares of the business services provider’s stock after selling 12,600 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of National CineMedia worth $766,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Virtu Financial LLC raised its stake in National CineMedia by 13.8% during the 1st quarter. Virtu Financial LLC now owns 26,223 shares of the business services provider’s stock worth $135,000 after acquiring an additional 3,172 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of National CineMedia by 38.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 6,690 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of National CineMedia in the 2nd quarter valued at about $56,000. American Century Companies Inc. grew its stake in National CineMedia by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 89,555 shares of the business services provider’s stock worth $393,000 after buying an additional 15,177 shares during the last quarter. Finally, Hill Investment Group Partners LLC increased its position in National CineMedia by 100.9% during the second quarter. Hill Investment Group Partners LLC now owns 34,392 shares of the business services provider’s stock worth $151,000 after buying an additional 17,276 shares during the period. Institutional investors and hedge funds own 69.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barrington Research upgraded shares of National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research report on Tuesday, August 6th. B. Riley raised their price objective on shares of National CineMedia from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $8.00 target price on shares of National CineMedia in a report on Monday, September 23rd. Finally, Wedbush reissued a “neutral” rating and set a $6.00 price target on shares of National CineMedia in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, National CineMedia has an average rating of “Hold” and a consensus target price of $7.50.

National CineMedia Stock Performance

Shares of NCMI opened at $6.42 on Wednesday. The stock has a market capitalization of $620.00 million, a P/E ratio of 0.19 and a beta of 2.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 2.45. National CineMedia, Inc. has a 1 year low of $3.51 and a 1 year high of $7.25. The company’s fifty day moving average is $6.62 and its two-hundred day moving average is $5.51.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $54.70 million for the quarter, compared to analyst estimates of $49.87 million. National CineMedia had a return on equity of 3.50% and a net margin of 78.04%. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, sell-side analysts predict that National CineMedia, Inc. will post -0.02 earnings per share for the current year.

National CineMedia Profile

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment 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.