Schroder Investment Management Group cut its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,226 shares of the business services provider’s stock after selling 25,550 shares during the period. Schroder Investment Management Group owned 0.10% of National CineMedia worth $580,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacad Investment Ltd. raised its holdings in shares of National CineMedia by 690.2% during the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after purchasing an additional 12,423 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in shares of National CineMedia during the third quarter worth $136,000. Stifel Financial Corp raised its holdings in shares of National CineMedia by 30.5% during the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock worth $142,000 after purchasing an additional 4,468 shares during the period. DRW Securities LLC acquired a new stake in shares of National CineMedia during the second quarter worth $142,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of National CineMedia during the third quarter worth $175,000. 86.40% of the stock is currently owned by hedge funds and other institutional investors.
NCMI has been the topic of a number of research reports. B. Riley cut shares of National CineMedia from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $8.75 in a report on Tuesday, November 7th. Credit Suisse Group dropped their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, September 28th. Zacks Investment Research cut shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. J P Morgan Chase & Co cut shares of National CineMedia from a “neutral” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Wednesday, November 8th. Finally, ValuEngine raised shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. National CineMedia presently has an average rating of “Hold” and an average price target of $7.90.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Monday, November 6th. The business services provider reported $0.12 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $108.21 million. During the same quarter last year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. analysts expect that National CineMedia, Inc. will post 0.29 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.22 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 12.70%. National CineMedia’s dividend payout ratio (DPR) is presently 266.67%.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction dated Monday, September 18th. The shares were 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 accessible through this link. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $6.49, for a total transaction of $18,172,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 585,620 shares of company stock worth $3,933,598. Corporate insiders own 5.40% of the company’s stock.
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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