Ameriprise Financial Inc. acquired a new stake in National CineMedia, Inc. (NASDAQ:NCMI) during the second quarter, according to its most recent filing with the SEC. The firm acquired 51,573 shares of the business services provider’s stock, valued at approximately $383,000. Ameriprise Financial Inc. owned about 0.09% of National CineMedia at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC grew its position in National CineMedia by 13.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 311,124 shares of the business services provider’s stock valued at $2,309,000 after buying an additional 37,700 shares during the last quarter. Teachers Advisors LLC lifted its holdings in National CineMedia by 13.5% in the second quarter. Teachers Advisors LLC now owns 122,046 shares of the business services provider’s stock valued at $906,000 after acquiring an additional 14,490 shares during the period. Engineers Gate Manager LP lifted its holdings in National CineMedia by 74.8% in the second quarter. Engineers Gate Manager LP now owns 91,122 shares of the business services provider’s stock valued at $676,000 after acquiring an additional 38,984 shares during the period. Schroder Investment Management Group acquired a new stake in National CineMedia in the second quarter valued at $806,000. Finally, Vivaldi Asset Management LLC acquired a new stake in National CineMedia in the second quarter valued at $1,439,000. Hedge funds and other institutional investors own 69.51% of the company’s stock.
In related news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of National CineMedia stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $6.49, for a total transaction of $18,172,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of National CineMedia stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
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National CineMedia, Inc. (NASDAQ:NCMI) opened at $5.93 on Wednesday. The stock has a market capitalization of $446.67, a price-to-earnings ratio of 18.35, a PEG ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of -14.71, a quick ratio of 1.76 and a current ratio of 1.76. National CineMedia, Inc. has a one year low of $5.12 and a one year high of $16.05.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Monday, November 6th. The business services provider reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $108.21 million. National CineMedia had a negative return on equity of 21.45% and a net margin of 4.81%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. research analysts forecast that National CineMedia, Inc. will post 0.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 14.84%. The ex-dividend date of this dividend is Wednesday, November 15th. National CineMedia’s dividend payout ratio is presently 266.67%.
A number of equities research analysts have commented on NCMI shares. Zacks Investment Research downgraded National CineMedia from a “hold” rating to a “sell” rating in a report on Saturday, November 4th. Credit Suisse Group reduced their target price on National CineMedia from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, September 28th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $8.00 target price (down previously from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. Wedbush started coverage on National CineMedia in a report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price for the company. Finally, B. Riley downgraded National CineMedia from a “buy” rating to a “neutral” rating and reduced their target price for the company from $14.00 to $8.75 in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.90.
National CineMedia Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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