Bank of New York Mellon Corp Invests $979,000 in National CineMedia, Inc. (NASDAQ:NCMI)

Bank of New York Mellon Corp purchased a new stake in National CineMedia, Inc. (NASDAQ:NCMI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 223,062 shares of the business services provider’s stock, valued at approximately $979,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of National CineMedia during the second quarter valued at about $56,000. Bayesian Capital Management LP bought a new position in National CineMedia in the 1st quarter valued at approximately $104,000. Fermata Advisors LLC acquired a new stake in National CineMedia during the 2nd quarter worth approximately $92,000. Oppenheimer Asset Management Inc. grew its holdings in National CineMedia by 38.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,897 shares of the business services provider’s stock worth $123,000 after acquiring an additional 6,690 shares during the last quarter. Finally, Virtu Financial LLC grew its holdings in 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 acquiring an additional 3,172 shares during the last quarter. Institutional investors own 69.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NCMI. B. Riley lifted their price target on shares of National CineMedia from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Friday, August 16th. Barrington Research raised National CineMedia from a “market perform” rating to an “outperform” rating and set a $7.50 target price for the company in a research report on Tuesday, August 6th. Benchmark reiterated a “speculative buy” rating and issued a $6.00 price target on shares of National CineMedia in a research report on Tuesday, August 6th. Finally, Wedbush restated a “neutral” rating and set a $6.00 price objective on shares of National CineMedia in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, National CineMedia presently has a consensus rating of “Hold” and an average price target of $7.00.

National CineMedia Trading Down 1.7 %

NCMI opened at $6.85 on Friday. National CineMedia, Inc. has a twelve month low of $3.51 and a twelve month high of $7.10. The company has a fifty day moving average of $6.29 and a 200-day moving average of $5.30. The stock has a market cap of $661.53 million, a PE ratio of 0.20 and a beta of 2.08. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.03.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). National CineMedia had a return on equity of 3.50% and a net margin of 78.04%. The business had revenue of $54.70 million for the quarter, compared to analyst estimates of $49.87 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts predict that National CineMedia, Inc. will post -0.02 EPS for the current year.

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.