How National CineMedia, Inc. (NCMI) Stacks Up Against Its Peers?

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We already know that not all hedge funds are bullish on the stock and some hedge funds actually dropped their positions entirely. Intriguingly, Millennium Management, one of the 10 largest hedge funds in the world, dropped the largest position of all the hedgies monitored by Insider Monkey, totaling about $1.5 million in stock. Gavin Saitowitz and Cisco J. del Valle’s fund, Springbok Capital, also said goodbye to its stock, about $0.6 million worth.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as National CineMedia, Inc. (NASDAQ:NCMI) but similarly valued. These stocks are Helix Energy Solutions Group Inc. (NYSE:HLX), At Home Group Inc (NYSE:HOME), Cato Corp (NYSE:CATO), and Rofin-Sinar Technologies (NASDAQ:RSTI). This group of stocks’ market valuations resemble NCMI’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HLX 19 147517 1
HOME 5 9908 5
CATO 11 81751 -4
RSTI 11 68209 -2

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $77 million. That figure was $67 million in NCMI’s case. Helix Energy Solutions Group Inc. (NYSE:HLX) is the most popular stock in this table. On the other hand At Home Group Inc (NYSE:HOME) is the least popular one with only 5 bullish hedge fund positions. National CineMedia, Inc. (NASDAQ:NCMI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HLX might be a better candidate to consider taking a long position in.

Disclosure: None

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