National CineMedia, Inc. (NASDAQ:NCMI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 11.7% in the third quarter, Holdings Channel reports. The firm owned 4,295,424 shares of the business services provider’s stock after selling 570,178 shares during the period. JPMorgan Chase & Co.’s holdings in National CineMedia were worth $30,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in National CineMedia by 240.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider’s stock worth $5,088,000 after buying an additional 509,756 shares during the period. Luxor Capital Group LP lifted its holdings in shares of National CineMedia by 1,581.1% in the 2nd quarter. Luxor Capital Group LP now owns 490,809 shares of the business services provider’s stock worth $2,155,000 after acquiring an additional 461,614 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of National CineMedia by 5.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,936,947 shares of the business services provider’s stock worth $48,905,000 after purchasing an additional 365,360 shares during the period. Harbor Capital Advisors Inc. increased its holdings in National CineMedia by 124.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 469,338 shares of the business services provider’s stock valued at $3,309,000 after purchasing an additional 260,689 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in National CineMedia in the 2nd quarter valued at approximately $979,000. 69.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on NCMI. StockNews.com upgraded National CineMedia from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wedbush restated a “neutral” rating and set a $7.50 target price (up from $6.00) on shares of National CineMedia in a report on Monday, November 4th. Barrington Research upped their target price on shares of National CineMedia from $7.50 to $8.25 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Benchmark reissued a “buy” rating and set a $8.00 price objective on shares of National CineMedia in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, National CineMedia currently has an average rating of “Moderate Buy” and a consensus price target of $8.06.

Insider Activity

In related news, EVP Maria Vg Woods sold 23,742 shares of National CineMedia stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $6.51, for a total value of $154,560.42. Following the sale, the executive vice president now directly owns 66,987 shares in the company, valued at $436,085.37. The trade was a 26.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.33% of the company’s stock.

National CineMedia Price Performance

Shares of NASDAQ:NCMI opened at $6.42 on Wednesday. The company’s fifty day moving average price is $6.87 and its 200 day moving average price is $6.41. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.46 and a quick ratio of 2.46. National CineMedia, Inc. has a 12 month low of $3.65 and a 12 month high of $7.60. The firm has a market capitalization of $609.35 million, a P/E ratio of -25.68 and a beta of 2.06.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). National CineMedia had a negative net margin of 9.49% and a negative return on equity of 2.61%. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $58.20 million. During the same quarter last year, the company earned $0.33 EPS. As a group, sell-side analysts predict that National CineMedia, Inc. will post -0.14 earnings per share for the current fiscal 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.