Gabelli Funds LLC acquired a new position in shares of National CineMedia, Inc. (NASDAQ:NCMI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,000 shares of the business services provider’s stock, valued at approximately $265,000. Gabelli Funds LLC owned about 0.06% of National CineMedia at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacad Investment Ltd. raised its holdings in National CineMedia by 690.2% during the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after buying an additional 12,423 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in National CineMedia during the second quarter worth $137,000. Stifel Financial Corp raised its holdings in National CineMedia by 30.5% during the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock worth $142,000 after buying an additional 4,468 shares during the last quarter. DRW Securities LLC acquired a new position in National CineMedia during the second quarter worth $142,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of National CineMedia in the third quarter valued at about $136,000. Hedge funds and other institutional investors own 69.51% of the company’s stock.
National CineMedia, Inc. (NASDAQ:NCMI) opened at $5.71 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of -14.71. The firm has a market cap of $465.51, a PE ratio of 19.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65. National CineMedia, Inc. has a 1 year low of $5.12 and a 1 year high of $16.05.
National CineMedia (NASDAQ:NCMI) last issued its earnings results on Monday, November 6th. The business services provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $108.21 million. National CineMedia had a net margin of 4.81% and a negative return on equity of 21.45%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. sell-side analysts expect that National CineMedia, Inc. will post 0.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 15th. This represents a $0.88 dividend on an annualized basis and a yield of 15.41%. National CineMedia’s dividend payout ratio is presently 266.67%.
In other news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $6.49, for a total value of $18,172,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.
NCMI has been the subject of several analyst reports. B. Riley reiterated a “buy” rating and issued a $14.00 target price on shares of National CineMedia in a report on Wednesday, August 2nd. Wedbush initiated coverage on shares of National CineMedia in a report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price for the company. J P Morgan Chase & Co reiterated 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. Zacks Investment Research upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Credit Suisse Group lowered their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and an average price target of $7.90.
About National CineMedia
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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