National CineMedia, Inc. $NCMI Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 23.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,260,322 shares of the business services provider’s stock after selling 384,125 shares during the period. First Eagle Investment Management LLC’s holdings in National CineMedia were worth $5,684,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NCMI. AQR Capital Management LLC increased its position in shares of National CineMedia by 59.8% during the first quarter. AQR Capital Management LLC now owns 488,025 shares of the business services provider’s stock worth $2,850,000 after purchasing an additional 182,548 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in National CineMedia during the 1st quarter worth approximately $255,000. Goldman Sachs Group Inc. increased its position in National CineMedia by 21.3% during the first quarter. Goldman Sachs Group Inc. now owns 683,614 shares of the business services provider’s stock worth $3,992,000 after buying an additional 120,079 shares during the period. Jane Street Group LLC increased its position in National CineMedia by 511.8% during the first quarter. Jane Street Group LLC now owns 93,061 shares of the business services provider’s stock worth $543,000 after buying an additional 77,849 shares during the period. Finally, Strs Ohio purchased a new stake in National CineMedia in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 69.49% of the company’s stock.

National CineMedia Stock Up 0.6%

NCMI stock opened at $3.56 on Thursday. The stock has a market capitalization of $331.58 million, a PE ratio of -35.60 and a beta of 1.36. The company has a fifty day moving average of $3.64 and a 200-day moving average of $4.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.90 and a current ratio of 2.22. National CineMedia, Inc. has a one year low of $3.17 and a one year high of $6.39.

National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. National CineMedia had a negative net margin of 4.32% and a negative return on equity of 2.29%. As a group, analysts expect that National CineMedia, Inc. will post -0.12 EPS for the current year.

National CineMedia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, March 9th. National CineMedia’s dividend payout ratio (DPR) is currently -120.00%.

Insider Activity at National CineMedia

In other National CineMedia news, EVP Maria Vg Woods sold 9,043 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $3.89, for a total value of $35,177.27. Following the completion of the transaction, the executive vice president owned 129,330 shares in the company, valued at approximately $503,093.70. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NCMI. B. Riley Financial lowered their target price on shares of National CineMedia from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Barrington Research lowered their price objective on shares of National CineMedia from $6.50 to $5.50 and set an “outperform” rating on the stock in a research report on Monday, January 26th. Zacks Research upgraded shares of National CineMedia from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings upgraded shares of National CineMedia from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Friday, February 27th. Finally, Benchmark lowered their price target on National CineMedia from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.80.

About National CineMedia

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.