Envestnet Asset Management Inc. acquired a new position in shares of National CineMedia, Inc. (NASDAQ:NCMI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,171 shares of the business services provider’s stock, valued at approximately $141,000.
Several other hedge funds also recently added to or reduced their stakes in NCMI. Bank of New York Mellon Corp lifted its position in National CineMedia by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,656,487 shares of the business services provider’s stock valued at $10,867,000 after acquiring an additional 9,180 shares in the last quarter. Northern Trust Corp raised its stake in shares of National CineMedia by 0.9% in the second quarter. Northern Trust Corp now owns 1,531,295 shares of the business services provider’s stock worth $10,046,000 after purchasing an additional 13,738 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of National CineMedia by 7.9% in the second quarter. North Star Investment Management Corp. now owns 640,333 shares of the business services provider’s stock valued at $4,201,000 after purchasing an additional 46,790 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of National CineMedia by 19.6% in the second quarter. Bessemer Group Inc. now owns 241,900 shares of the business services provider’s stock valued at $1,587,000 after purchasing an additional 39,700 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of National CineMedia by 44.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 231,072 shares of the business services provider’s stock valued at $1,516,000 after buying an additional 71,075 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.
NCMI stock opened at $6.49 on Wednesday. The stock has a market cap of $514.27 million, a P/E ratio of 17.54 and a beta of 0.66. National CineMedia, Inc. has a 1-year low of $5.64 and a 1-year high of $8.93. The stock’s fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $7.37.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Monday, November 4th. The business services provider reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.01). The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $118.75 million. National CineMedia had a net margin of 7.66% and a negative return on equity of 32.44%. National CineMedia’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities research analysts forecast that National CineMedia, Inc. will post 0.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.68 annualized dividend and a dividend yield of 10.48%. National CineMedia’s payout ratio is currently 183.78%.
NCMI has been the subject of several recent research reports. B. Riley downgraded National CineMedia from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $9.75 to $8.50 in a report on Tuesday, November 5th. Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of National CineMedia from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Benchmark raised their price target on shares of National CineMedia from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Wedbush reaffirmed a “buy” rating and issued a $9.00 price objective on shares of National CineMedia in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. National CineMedia has a consensus rating of “Hold” and a consensus target price of $9.70.
About National CineMedia
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-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.
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