State Street Corp raised its holdings in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,422,084 shares of the business services provider’s stock after acquiring an additional 32,047 shares during the period. State Street Corp owned about 2.35% of National CineMedia worth $10,553,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pacad Investment Ltd. grew its position in National CineMedia by 690.2% during the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 12,423 shares during the last quarter. Stifel Financial Corp grew its position 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 acquiring an additional 4,468 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in National CineMedia during the second quarter valued at approximately $159,000. Legal & General Group Plc grew its position in National CineMedia by 21.9% during the second quarter. Legal & General Group Plc now owns 25,026 shares of the business services provider’s stock valued at $186,000 after acquiring an additional 4,490 shares during the last quarter. Finally, Citigroup Inc. grew its position in National CineMedia by 3.5% during the second quarter. Citigroup Inc. now owns 25,190 shares of the business services provider’s stock valued at $187,000 after acquiring an additional 844 shares during the last quarter. Institutional investors and hedge funds own 64.87% of the company’s stock.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $6.49, for a total value of $18,172,000.00. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. B. Riley reiterated a “buy” rating and set a $14.00 price target on shares of National CineMedia in a research report on Saturday, August 12th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $8.00 price target (down from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. Wedbush assumed coverage on shares of National CineMedia in a research report on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 price target on the stock. Zacks Investment Research upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group reduced their price target 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. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.90.
National CineMedia, Inc. (NASDAQ:NCMI) opened at $6.00 on Monday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of -14.71. National CineMedia, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $16.05. The stock has a market cap of $471.01, a P/E ratio of 19.35, a PEG ratio of 2.53 and a beta of 0.65.
National CineMedia (NASDAQ:NCMI) last issued its earnings results on Monday, November 6th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. National CineMedia had a net margin of 4.81% and a negative return on equity of 21.45%. The firm had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $108.21 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. research analysts forecast that National CineMedia, Inc. will post 0.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 14.67%. The ex-dividend date of this dividend is Wednesday, November 15th. National CineMedia’s dividend payout ratio is 266.67%.
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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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