JPMorgan Chase & Co. Sells 570,178 Shares of National CineMedia, Inc. (NASDAQ:NCMI)

JPMorgan Chase & Co. decreased its holdings in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 11.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,295,424 shares of the business services provider’s stock after selling 570,178 shares during the quarter. JPMorgan Chase & Co. owned 4.53% of National CineMedia worth $30,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC bought a new position in National CineMedia in the 3rd quarter worth about $97,000. The Manufacturers Life Insurance Company acquired a new stake in National CineMedia in the second quarter valued at approximately $124,000. Squarepoint Ops LLC boosted its position in shares of National CineMedia by 7.9% in the 2nd quarter. Squarepoint Ops LLC now owns 42,835 shares of the business services provider’s stock worth $188,000 after purchasing an additional 3,132 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of National CineMedia by 102.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 48,418 shares of the business services provider’s stock worth $213,000 after acquiring an additional 24,521 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in National CineMedia by 141.2% during the 3rd quarter. SG Americas Securities LLC now owns 30,929 shares of the business services provider’s stock valued at $218,000 after purchasing an additional 18,108 shares in the last quarter. 69.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on NCMI shares. Wedbush restated a “neutral” rating and issued a $7.50 price objective (up from $6.00) on shares of National CineMedia in a research note on Monday, November 4th. Benchmark reiterated a “buy” rating and set a $8.00 price target on shares of National CineMedia in a research report on Monday, September 23rd. StockNews.com upgraded National CineMedia from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Barrington Research increased their target price on National CineMedia from $7.50 to $8.25 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, National CineMedia currently has a consensus rating of “Moderate Buy” and an average target price of $8.06.

National CineMedia Price Performance

NASDAQ:NCMI opened at $6.42 on Wednesday. The stock has a 50 day moving average of $6.87 and a two-hundred day moving average of $6.41. National CineMedia, Inc. has a 12 month low of $3.65 and a 12 month high of $7.60. The firm has a market cap of $609.35 million, a P/E ratio of -25.68 and a beta of 2.06. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.03.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The firm had revenue of $62.40 million for the quarter, compared to analysts’ expectations of $58.20 million. National CineMedia had a negative return on equity of 2.61% and a negative net margin of 9.49%. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, analysts expect that National CineMedia, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at National CineMedia

In other news, EVP Maria Vg Woods sold 23,742 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $6.51, for a total value of $154,560.42. Following the completion of the sale, the executive vice president now directly owns 66,987 shares in the company, valued at $436,085.37. This represents a 26.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company’s stock.

About National CineMedia

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.