Short Interest in National CineMedia, Inc. (NASDAQ:NCMI) Rises By 53.1%

National CineMedia, Inc. (NASDAQ:NCMI) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 5,190,000 shares, an increase of 53.1% from the June 30th total of 3,390,000 shares. Currently, 8.2% of the company’s stock are short sold. Based on an average daily volume of 700,100 shares, the days-to-cover ratio is presently 7.4 days.

Institutional Investors Weigh In On National CineMedia

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in shares of National CineMedia during the 2nd quarter worth $979,000. Fermata Advisors LLC bought a new stake in shares of National CineMedia during the 2nd quarter worth $92,000. SG Americas Securities LLC bought a new stake in shares of National CineMedia during the 2nd quarter worth $56,000. Harbor Capital Advisors Inc. raised its stake in shares of National CineMedia by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 208,649 shares of the business services provider’s stock worth $916,000 after purchasing an additional 152,251 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of 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 purchasing an additional 3,172 shares during the period. 69.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NCMI has been the subject of several research reports. Wedbush reissued a “neutral” rating and issued a $5.50 price target on shares of National CineMedia in a research report on Tuesday, May 7th. Benchmark reaffirmed a “speculative buy” rating and set a $6.00 price objective on shares of National CineMedia in a report on Monday, June 17th. Finally, StockNews.com downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th.

National CineMedia Stock Up 3.1 %

NCMI traded up $0.17 during mid-day trading on Friday, reaching $5.71. 309,513 shares of the stock were exchanged, compared to its average volume of 1,006,143. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a market capitalization of $551.43 million, a PE ratio of 0.17 and a beta of 2.03. The company has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $4.62. National CineMedia has a 1 year low of $2.75 and a 1 year high of $5.90.

National CineMedia (NASDAQ:NCMI) last released its earnings results on Monday, May 6th. The business services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.11). The business had revenue of $34.80 million for the quarter, compared to the consensus estimate of $34.73 million. National CineMedia had a return on equity of 3.45% and a net margin of 426.76%. As a group, research analysts anticipate that National CineMedia will post 0.02 EPS for the current year.

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.