Dimensional Fund Advisors LP boosted its position in National CineMedia, Inc. (NASDAQ:NCMI) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,420,191 shares of the business services provider’s stock after buying an additional 150,525 shares during the period. Dimensional Fund Advisors LP owned approximately 3.06% of National CineMedia worth $20,330,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its position in National CineMedia by 21.4% in the 2nd quarter. BlackRock Inc. now owns 5,297,552 shares of the business services provider’s stock valued at $44,498,000 after buying an additional 934,901 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in National CineMedia by 0.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 2,000,000 shares of the business services provider’s stock valued at $16,800,000 after buying an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in National CineMedia by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,805,744 shares of the business services provider’s stock valued at $15,168,000 after acquiring an additional 61,750 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in National CineMedia by 15.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 939,839 shares of the business services provider’s stock valued at $7,895,000 after acquiring an additional 125,908 shares during the period. Finally, Northern Trust Corp lifted its holdings in National CineMedia by 1.2% in the first quarter. Northern Trust Corp now owns 717,118 shares of the business services provider’s stock valued at $3,721,000 after acquiring an additional 8,636 shares during the period. Hedge funds and other institutional investors own 84.41% of the company’s stock.
NCMI has been the subject of a number of recent analyst reports. ValuEngine raised National CineMedia from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. B. Riley raised their target price on National CineMedia from $8.00 to $9.50 and gave the company a “buy” rating in a report on Monday, June 25th. BidaskClub raised National CineMedia from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Zacks Investment Research downgraded National CineMedia from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, MKM Partners raised their target price on National CineMedia to $9.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $9.30.
National CineMedia stock opened at $9.31 on Friday. National CineMedia, Inc. has a one year low of $5.09 and a one year high of $10.94. The company has a debt-to-equity ratio of -9.88, a current ratio of 2.12 and a quick ratio of 2.12. The firm has a market capitalization of $836.56 million, a price-to-earnings ratio of 23.28 and a beta of 0.58.
National CineMedia (NASDAQ:NCMI) last released its earnings results on Monday, August 6th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). National CineMedia had a net margin of 1.40% and a negative return on equity of 50.95%. The business had revenue of $113.70 million during the quarter, compared to analyst estimates of $108.48 million. During the same period last year, the business posted $0.09 EPS. National CineMedia’s revenue was up 17.1% compared to the same quarter last year. On average, analysts predict that National CineMedia, Inc. will post 0.38 earnings per share for the current year.
In other news, major shareholder General L.P. Standard purchased 46,439 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was acquired at an average price of $8.55 per share, with a total value of $397,053.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Clifford E. Marks sold 30,237 shares of National CineMedia stock in a transaction on Monday, September 24th. The stock was sold at an average price of $10.00, for a total value of $302,370.00. Following the transaction, the president now directly owns 526,868 shares of the company’s stock, valued at approximately $5,268,680. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
About National CineMedia
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.
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