Oppenheimer Asset Management Inc. Grows Stock Position in National CineMedia, Inc. (NASDAQ:NCMI)

Oppenheimer Asset Management Inc. lifted its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 102.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,418 shares of the business services provider’s stock after buying an additional 24,521 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of National CineMedia worth $213,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NCMI. SG Americas Securities LLC purchased a new position in shares of National CineMedia in the second quarter worth about $56,000. Fermata Advisors LLC purchased a new position in shares of National CineMedia in the second quarter worth about $92,000. Bayesian Capital Management LP purchased a new position in shares of National CineMedia in the first quarter worth about $104,000. Virtu Financial LLC increased its holdings in shares of National CineMedia by 13.8% in the first quarter. Virtu Financial LLC now owns 26,223 shares of the business services provider’s stock worth $135,000 after buying an additional 3,172 shares during the period. Finally, Hill Investment Group Partners LLC increased its holdings in shares of National CineMedia by 100.9% in 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. Hedge funds and other institutional investors own 69.49% of the company’s stock.

National CineMedia Stock Down 1.7 %

NCMI stock opened at $6.85 on Monday. National CineMedia, Inc. has a fifty-two week low of $3.51 and a fifty-two week high of $7.10. The business’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $5.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market capitalization of $661.53 million, a price-to-earnings ratio of 0.20 and a beta of 2.08.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark restated a “speculative buy” rating and set a $6.00 price target on shares of National CineMedia in a report on Tuesday, August 6th. Barrington Research upgraded National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a report on Tuesday, August 6th. Wedbush restated a “neutral” rating and set a $6.00 price target on shares of National CineMedia in a report on Tuesday, August 6th. Finally, B. Riley boosted their price target on National CineMedia from $7.50 to $8.50 and gave the company a “buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, National CineMedia presently has an average rating of “Hold” and a consensus target price of $7.00.

National CineMedia Company 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.