Punch & Associates Investment Management Inc. Has $3.53 Million Position in National CineMedia, Inc. (NCMI)
Punch & Associates Investment Management Inc. increased its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 59.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,000 shares of the business services provider’s stock after purchasing an additional 176,960 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 0.79% of National CineMedia worth $3,532,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Pacad Investment Ltd. raised its holdings in National CineMedia by 690.2% during the 2nd quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after buying an additional 12,423 shares during the period. Fox Run Management L.L.C. purchased a new stake in National CineMedia during the second quarter valued at about $137,000. Stevens Capital Management LP purchased a new stake in National CineMedia during the first quarter valued at about $138,000. Stifel Financial Corp lifted its stake in National CineMedia by 30.5% during the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock valued at $142,000 after buying an additional 4,468 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in National CineMedia during the second quarter valued at about $159,000. 85.38% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $6.49, for a total transaction of $18,172,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.
Several research firms have recently weighed in on NCMI. Credit Suisse Group dropped their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. J P Morgan Chase & Co restated a “neutral” rating and issued a $8.00 price target (down previously from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. BidaskClub downgraded shares of National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Wedbush assumed coverage on shares of National CineMedia in a research note on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.80.
Shares of National CineMedia, Inc. (NCMI) traded down 0.27% during trading on Wednesday, hitting $7.35. The stock had a trading volume of 64,383 shares. National CineMedia, Inc. has a 1-year low of $5.12 and a 1-year high of $16.05. The company has a market capitalization of $445.51 million, a price-to-earnings ratio of 22.97 and a beta of 0.68. The firm has a 50 day moving average of $6.05 and a 200 day moving average of $8.22.
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 consensus estimate of $0.07 by ($0.04). The business had revenue of $97.10 million during the quarter, compared to the consensus estimate 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 revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. Analysts expect that National CineMedia, Inc. will post $0.29 EPS for the current fiscal year.
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National CineMedia 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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