National CineMedia, Inc. (NASDAQ:NCMI) Position Reduced by Riverwater Partners LLC

Riverwater Partners LLC reduced its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,718 shares of the business services provider’s stock after selling 33,589 shares during the quarter. Riverwater Partners LLC owned about 0.25% of National CineMedia worth $1,382,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. grew its stake in shares of National CineMedia by 18.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 564,030 shares of the business services provider’s stock worth $3,294,000 after purchasing an additional 87,562 shares during the last quarter. GAMMA Investing LLC grew its position in National CineMedia by 502.0% in the first quarter. GAMMA Investing LLC now owns 5,081 shares of the business services provider’s stock worth $30,000 after buying an additional 4,237 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of National CineMedia by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 2,923,516 shares of the business services provider’s stock valued at $19,412,000 after buying an additional 132,895 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of National CineMedia during the 4th quarter worth $384,000. Finally, State of Wyoming grew its holdings in shares of National CineMedia by 2,562.3% in the 4th quarter. State of Wyoming now owns 69,539 shares of the business services provider’s stock worth $462,000 after acquiring an additional 66,927 shares during the last quarter. 69.49% of the stock is currently owned by institutional investors and hedge funds.

National CineMedia Price Performance

Shares of NCMI opened at $5.26 on Friday. The company has a market capitalization of $496.02 million, a PE ratio of -27.68 and a beta of 2.12. National CineMedia, Inc. has a one year low of $4.12 and a one year high of $7.60. The company’s fifty day moving average price is $5.41 and its 200 day moving average price is $6.11.

National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Tuesday, May 6th. The business services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). National CineMedia had a negative return on equity of 2.83% and a negative net margin of 7.68%. The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $35.13 million. Analysts anticipate that National CineMedia, Inc. will post -0.12 earnings per share for the current year.

National CineMedia Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.12 annualized dividend and a yield of 2.28%. National CineMedia’s dividend payout ratio (DPR) is -63.16%.

Wall Street Analysts Forecast Growth

NCMI has been the subject of several recent analyst reports. William Blair reaffirmed a “neutral” rating and issued a $7.50 target price on shares of National CineMedia in a research report on Friday, March 7th. B. Riley cut National CineMedia from a “buy” rating to a “neutral” rating and set a $6.00 target price on the stock. in a research note on Friday, May 16th. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of National CineMedia in a research report on Friday, March 7th. Wedbush restated an “outperform” rating and set a $7.50 price target on shares of National CineMedia in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.20.

National CineMedia Company Profile

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.