Columbia Partners L.L.C. Investment Management increased its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 30.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 552,166 shares of the business services provider’s stock after buying an additional 128,367 shares during the quarter. National CineMedia comprises 1.5% of Columbia Partners L.L.C. Investment Management’s portfolio, making the stock its 16th largest position. Columbia Partners L.L.C. Investment Management owned about 0.70% of National CineMedia worth $5,847,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in shares of National CineMedia by 431.8% in the second quarter. Meeder Asset Management Inc. now owns 11,881 shares of the business services provider’s stock valued at $100,000 after buying an additional 9,647 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of National CineMedia in the second quarter valued at about $138,000. CAPROCK Group Inc. acquired a new stake in shares of National CineMedia in the third quarter valued at about $148,000. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of National CineMedia in the third quarter valued at about $176,000. Finally, Virtu Financial LLC purchased a new position in National CineMedia in the third quarter valued at about $187,000. Institutional investors and hedge funds own 88.89% of the company’s stock.
Shares of NCMI opened at $6.91 on Monday. The stock has a market capitalization of $545.61 million, a P/E ratio of 17.28 and a beta of 0.83. National CineMedia, Inc. has a one year low of $5.09 and a one year high of $10.94.
National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, November 5th. The business services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $110.10 million during the quarter, compared to the consensus estimate of $117.48 million. National CineMedia had a negative return on equity of 50.31% and a net margin of 1.82%. National CineMedia’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. As a group, equities analysts forecast that National CineMedia, Inc. will post 0.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 9.84%. The ex-dividend date of this dividend was Wednesday, November 14th. National CineMedia’s dividend payout ratio is presently 170.00%.
In other news, major shareholder General L.P. Standard bought 459,738 shares of National CineMedia stock in a transaction on Friday, November 9th. The shares were bought at an average price of $7.49 per share, with a total value of $3,443,437.62. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Clifford E. Marks sold 30,237 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,268,680. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of research analysts recently commented on NCMI shares. BidaskClub downgraded National CineMedia from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. Zacks Investment Research raised National CineMedia from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, October 10th. B. Riley increased their price target on National CineMedia from $10.50 to $11.50 and gave the company a “buy” rating in a report on Monday, September 24th. MKM Partners increased their price target on National CineMedia to $9.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Finally, ValuEngine downgraded National CineMedia from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.38.
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National CineMedia Company Profile
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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