National CineMedia, Inc. (NASDAQ:NCMI) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 23.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,157,488 shares of the business services provider’s stock after purchasing an additional 222,498 shares during the period. State Street Corp owned 1.22% of National CineMedia worth $8,160,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of National CineMedia by 240.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider’s stock worth $5,088,000 after buying an additional 509,756 shares in the last quarter. Luxor Capital Group LP boosted its holdings in National CineMedia by 1,581.1% in the second quarter. Luxor Capital Group LP now owns 490,809 shares of the business services provider’s stock valued at $2,155,000 after acquiring an additional 461,614 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of National CineMedia by 5.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,936,947 shares of the business services provider’s stock worth $48,905,000 after purchasing an additional 365,360 shares during the period. Harbor Capital Advisors Inc. increased its position in National CineMedia by 124.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 469,338 shares of the business services provider’s stock worth $3,309,000 after purchasing an additional 260,689 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in National CineMedia in the second quarter valued at approximately $979,000. Hedge funds and other institutional investors own 69.49% of the company’s stock.

National CineMedia Stock Performance

NCMI stock opened at $6.61 on Friday. 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, Inc. has a 12-month low of $3.65 and a 12-month high of $7.60. The stock’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $6.29. The firm has a market cap of $627.39 million, a P/E ratio of -26.44 and a beta of 2.07.

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

Wall Street Analysts Forecast Growth

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

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.