Oppenheimer Asset Management Inc. Boosts Stock Holdings in National CineMedia, Inc. (NASDAQ:NCMI)

Oppenheimer Asset Management Inc. lifted its position in National CineMedia, Inc. (NASDAQ:NCMI) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,277 shares of the business services provider’s stock after purchasing an additional 7,859 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of National CineMedia worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NCMI. Vanguard Group Inc. raised its position in shares of National CineMedia by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,584,556 shares of the business services provider’s stock worth $18,460,000 after acquiring an additional 18,347 shares during the period. Quadrature Capital Ltd acquired a new position in National CineMedia in the 1st quarter worth about $298,000. Gendell Jeffrey L purchased a new position in National CineMedia during the first quarter worth approximately $2,352,000. Bayesian Capital Management LP acquired a new stake in National CineMedia in the first quarter valued at approximately $104,000. Finally, Ancora Advisors LLC increased its position in shares of National CineMedia by 64.2% in the first quarter. Ancora Advisors LLC now owns 1,136,476 shares of the business services provider’s stock valued at $5,853,000 after buying an additional 444,433 shares in the last quarter. 69.49% of the stock is owned by hedge funds and other institutional investors.

National CineMedia Trading Down 0.3 %

Shares of NCMI opened at $6.76 on Wednesday. National CineMedia, Inc. has a 52-week low of $3.63 and a 52-week high of $7.39. The stock has a market cap of $641.66 million, a PE ratio of -27.04 and a beta of 2.07. The firm’s fifty day moving average is $6.85 and its two-hundred day moving average is $5.93. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.03.

National CineMedia (NASDAQ:NCMI) last posted 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). The business had revenue of $62.40 million for the quarter, compared to analyst estimates 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. Research analysts forecast that National CineMedia, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. 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. Wedbush reaffirmed a “neutral” rating and set a $7.50 price objective (up from $6.00) on shares of National CineMedia in a report on Monday, November 4th. B. Riley boosted their target price on shares of National CineMedia from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of National CineMedia in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, National CineMedia presently has an average rating of “Hold” and a consensus target price of $8.06.

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.