Rhumbline Advisers cut its holdings in National CineMedia, Inc. (NASDAQ:NCMI) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,228 shares of the business services provider’s stock after selling 490 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of National CineMedia worth $573,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of National CineMedia in the 2nd quarter worth $137,000. Stevens Capital Management LP purchased a new stake in shares of National CineMedia during the 1st quarter worth $138,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of National CineMedia during the 2nd quarter worth $159,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of National CineMedia during the 1st quarter worth $161,000. Finally, Stifel Financial Corp purchased a new stake in shares of National CineMedia during the 1st quarter worth $186,000. 85.38% of the stock is owned by institutional investors.

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In other National CineMedia news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.40% of the company’s stock.

A number of equities research analysts recently weighed in on the company. BidaskClub downgraded National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. B. Riley reiterated a “buy” rating and issued a $14.00 target price on shares of National CineMedia in a report on Wednesday, August 2nd. Wedbush assumed coverage on shares of National CineMedia in a report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price for the company. J P Morgan Chase & Co reissued a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $11.80.

National CineMedia, Inc. (NCMI) opened at 7.22 on Tuesday. The stock has a market capitalization of $437.63 million, a P/E ratio of 22.56 and a beta of 0.68. The company’s 50-day moving average price is $6.00 and its 200 day moving average price is $8.26. National CineMedia, Inc. has a 52 week low of $5.12 and a 52 week high of $16.05.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.04). The business had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $104.30 million. National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities research analysts expect that National CineMedia, Inc. will post $0.29 EPS for the current fiscal year.

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.

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

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