National CineMedia (NCMI) Trading 5.1% Higher

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National CineMedia, Inc. (NASDAQ:NCMI) shares traded up 5.1% during trading on Thursday . The stock traded as high as $7.70 and last traded at $7.68. 725,115 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 646,274 shares. The stock had previously closed at $7.31.

NCMI has been the subject of several research reports. Zacks Investment Research upgraded shares of National CineMedia from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, October 10th. BidaskClub lowered shares of National CineMedia from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 17th. ValuEngine upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. B. Riley increased their price target on shares of National CineMedia from $10.50 to $11.50 and gave the stock a “buy” rating in a research note on Monday, September 24th. Finally, MKM Partners increased their price target on shares of National CineMedia to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.38.

The company has a market capitalization of $577.19 million, a PE ratio of 18.75 and a beta of 0.83.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Monday, November 5th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. National CineMedia had a net margin of 1.82% and a negative return on equity of 50.31%. The company had revenue of $110.10 million during the quarter, compared to analyst estimates of $117.48 million. During the same period last year, the business earned $0.21 EPS. National CineMedia’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts anticipate that National CineMedia, Inc. will post 0.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 9.07%. The ex-dividend date is Wednesday, November 14th. National CineMedia’s dividend payout ratio (DPR) is 170.00%.

In other news, President Clifford E. Marks sold 30,237 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $10.00, for a total transaction of $302,370.00. Following the sale, the president now owns 526,868 shares of the company’s stock, valued at approximately $5,268,680. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder General L.P. Standard purchased 182,439 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $8.59 per share, for a total transaction of $1,567,151.01. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of National CineMedia by 21.4% during the 2nd quarter. BlackRock Inc. now owns 5,297,552 shares of the business services provider’s stock valued at $44,498,000 after acquiring an additional 934,901 shares during the last quarter. Global X Management Co LLC boosted its holdings in shares of National CineMedia by 1.3% during the 2nd quarter. Global X Management Co LLC now owns 2,456,713 shares of the business services provider’s stock valued at $20,636,000 after acquiring an additional 30,940 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of National CineMedia by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,420,191 shares of the business services provider’s stock valued at $20,330,000 after acquiring an additional 150,525 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of National CineMedia by 0.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 2,000,000 shares of the business services provider’s stock valued at $16,800,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of National CineMedia by 3.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,862,142 shares of the business services provider’s stock valued at $19,720,000 after acquiring an additional 56,398 shares during the last quarter. 84.12% of the stock is currently owned by hedge funds and other institutional investors.

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About National CineMedia (NASDAQ:NCMI)

National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates an in-theatre digital media network in North America. The company produces and distributes various versions of Noovie, a cinema advertising and entertainment pre-show on movie screens; sells advertising on its lobby entertainment network; and other forms of advertising and promotions in theatre lobbies.

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