Davidson & Garrard Inc. raised its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 32.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 136,727 shares of the business services provider’s stock after buying an additional 33,230 shares during the period. Davidson & Garrard Inc. owned approximately 0.23% of National CineMedia worth $1,727,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Arrowpoint Asset Management LLC boosted its stake in shares of National CineMedia by 2.8% in the fourth quarter. Arrowpoint Asset Management LLC now owns 7,126,101 shares of the business services provider’s stock worth $104,967,000 after buying an additional 194,154 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of National CineMedia by 3.4% in the fourth quarter. Renaissance Technologies LLC now owns 547,600 shares of the business services provider’s stock worth $8,066,000 after buying an additional 17,800 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of National CineMedia during the fourth quarter worth approximately $329,000. Trexquant Investment LP acquired a new stake in shares of National CineMedia during the fourth quarter worth approximately $427,000. Finally, Martingale Asset Management L P boosted its stake in shares of National CineMedia by 5.9% in the fourth quarter. Martingale Asset Management L P now owns 189,018 shares of the business services provider’s stock worth $2,785,000 after buying an additional 10,598 shares during the last quarter. 91.92% of the stock is currently owned by hedge funds and other institutional investors.
National CineMedia, Inc. (NASDAQ:NCMI) traded up 2.83% during midday trading on Friday, hitting $7.63. 896,596 shares of the company’s stock traded hands. National CineMedia, Inc. has a 52 week low of $7.22 and a 52 week high of $16.10. The company has a market capitalization of $462.34 million, a PE ratio of 18.70 and a beta of 0.89. The company has a 50 day moving average of $10.92 and a 200-day moving average of $13.29.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Thursday, May 4th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $71.90 million for the quarter, compared to analyst estimates of $73.82 million. National CineMedia had a negative return on equity of 13.70% and a net margin of 3.92%. National CineMedia’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Equities research analysts predict that National CineMedia, Inc. will post $0.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.88 annualized dividend and a yield of 11.86%. National CineMedia’s payout ratio is presently 314.30%.
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A number of brokerages recently commented on NCMI. Credit Suisse Group AG cut shares of National CineMedia from an “outperform” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a research note on Wednesday, February 1st. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of National CineMedia in a research note on Wednesday, March 1st. FBR & Co reaffirmed an “outperform” rating and set a $14.00 price target (down from $17.00) on shares of National CineMedia in a research note on Friday, February 24th. Zacks Investment Research cut shares of National CineMedia from a “buy” rating to a “hold” rating in a research note on Saturday, February 25th. Finally, Barrington Research cut shares of National CineMedia from an “outperform” rating to a “market perform” rating in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.65.
National CineMedia Company 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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