State Street Corp Raises Position in National CineMedia, Inc. (NASDAQ:NCMI)

State Street Corp increased its holdings in National CineMedia, Inc. (NASDAQ:NCMI - Free Report) by 23.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,157,488 shares of the business services provider's stock after purchasing an additional 222,498 shares during the quarter. State Street Corp owned 1.22% of National CineMedia worth $8,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in National CineMedia by 5.6% in 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 buying an additional 365,360 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of National CineMedia by 240.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider's stock valued at $5,088,000 after acquiring an additional 509,756 shares in the last quarter. Luxor Capital Group LP boosted its stake in shares of National CineMedia by 1,581.1% in the second 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. Harbor Capital Advisors Inc. raised its stake 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 position in National CineMedia in the 2nd quarter valued at $979,000. Hedge funds and other institutional investors own 69.49% of the company's stock.

National CineMedia Trading Down 1.9 %

NCMI stock traded down $0.13 during trading on Friday, reaching $6.61. 618,683 shares of the stock were exchanged, compared to its average volume of 608,592. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $627.39 million, a price-to-earnings ratio of -26.44 and a beta of 2.07. The business has a 50 day moving average price of $6.93 and a 200-day moving average price of $6.30. National CineMedia, Inc. has a 1 year low of $3.65 and a 1 year high of $7.60.

National CineMedia (NASDAQ:NCMI - Get Free Report) 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). The firm had revenue of $62.40 million for the quarter, compared to analysts' expectations of $58.20 million. National CineMedia had a negative net margin of 9.49% and a negative return on equity of 2.61%. During the same period in the previous year, the firm posted $0.33 EPS. On average, research analysts predict that National CineMedia, Inc. will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NCMI shares. Wedbush reaffirmed a "neutral" rating and set a $7.50 target price (up previously from $6.00) on shares of National CineMedia in a report on Monday, November 4th. Barrington Research upped their price objective on shares of National CineMedia from $7.50 to $8.25 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. StockNews.com raised shares of National CineMedia from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Finally, Benchmark restated a "buy" rating and issued a $8.00 price target on shares of National CineMedia in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, National CineMedia has an average rating of "Moderate Buy" and a consensus price target 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.