State of New Jersey Common Pension Fund D lifted its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 0.5% in the 1st quarter, HoldingsChannel reports. The fund owned 1,970,000 shares of the business services provider’s stock after purchasing an additional 10,000 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in National CineMedia were worth $13,889,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NCMI. Bank of Montreal Can increased its position in National CineMedia by 41.9% during the 4th quarter. Bank of Montreal Can now owns 5,388 shares of the business services provider’s stock valued at $35,000 after buying an additional 1,590 shares in the last quarter. FNY Investment Advisers LLC grew its stake in National CineMedia by 255.8% during the 4th quarter. FNY Investment Advisers LLC now owns 5,971 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 4,293 shares during the last quarter. SG Americas Securities LLC purchased a new stake in National CineMedia during the 4th quarter valued at about $65,000. Strs Ohio purchased a new stake in National CineMedia during the 4th quarter valued at about $87,000. Finally, Federated Investors Inc. PA grew its stake in National CineMedia by 31.2% during the 3rd quarter. Federated Investors Inc. PA now owns 9,372 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 2,226 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. Zacks Investment Research downgraded National CineMedia from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded National CineMedia from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush reiterated a “hold” rating and set a $8.00 price target on shares of National CineMedia in a research note on Tuesday. TheStreet downgraded National CineMedia from a “b-” rating to a “c” rating in a research note on Tuesday. Finally, Barrington Research reiterated a “hold” rating on shares of National CineMedia in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.31.
National CineMedia (NASDAQ:NCMI) last issued its earnings results on Monday, May 6th. The business services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $82.43 million. National CineMedia had a negative return on equity of 34.20% and a net margin of 6.75%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, research analysts expect that National CineMedia, Inc. will post 0.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.68 dividend on an annualized basis and a yield of 8.91%. National CineMedia’s dividend payout ratio is currently 183.78%.
National CineMedia Profile
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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