Skylands Capital LLC Raises Position in National CineMedia, Inc. (NASDAQ:NCMI)

Skylands Capital LLC increased its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 714.4% during the second quarter, Holdings Channel reports. The firm owned 575,750 shares of the business services provider’s stock after buying an additional 505,050 shares during the period. Skylands Capital LLC’s holdings in National CineMedia were worth $4,272,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of National CineMedia during the fourth quarter worth $710,000. State Street Corp increased its stake in shares of National CineMedia by 5.5% in the fourth quarter. State Street Corp now owns 1,333,819 shares of the business services provider’s stock worth $19,649,000 after buying an additional 69,689 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of National CineMedia by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,114,247 shares of the business services provider’s stock worth $31,143,000 after buying an additional 50,143 shares during the period. Renaissance Technologies LLC increased its stake in shares of National CineMedia by 3.4% in the fourth quarter. Renaissance Technologies LLC now owns 547,600 shares of the business services provider’s stock worth $8,066,000 after buying an additional 17,800 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of National CineMedia during the fourth quarter worth $220,000. 88.07% of the stock is owned by hedge funds and other institutional investors.

National CineMedia, Inc. (NASDAQ:NCMI) traded up 0.27% during trading on Friday, hitting $7.51. 613,210 shares of the stock were exchanged. National CineMedia, Inc. has a 52 week low of $6.97 and a 52 week high of $16.10. The firm has a 50-day moving average of $7.46 and a 200-day moving average of $11.00. The stock has a market capitalization of $455.07 million, a price-to-earnings ratio of 18.41 and a beta of 0.64.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. National CineMedia had a net margin of 5.57% and a negative return on equity of 17.15%. The business had revenue of $71.90 million during the quarter, compared to analyst estimates of $73.82 million. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that National CineMedia, Inc. will post $0.32 earnings per share for the current fiscal year.

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NCMI has been the subject of a number of research reports. B. Riley reissued a “buy” rating and issued a $16.00 price target on shares of National CineMedia in a report on Tuesday, May 2nd. Zacks Investment Research downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. FBR & Co downgraded shares of National CineMedia from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Friday, May 5th. J P Morgan Chase & Co downgraded shares of National CineMedia from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $17.00 to $12.00 in a report on Friday, May 5th. Finally, Barrington Research downgraded shares of National CineMedia from an “outperform” rating to a “market perform” rating in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.65.

National CineMedia Company Profile

National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.

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Institutional Ownership by Quarter for National CineMedia (NASDAQ:NCMI)

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