National CineMedia Inc. (NCMI) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. lowered its position in shares of National CineMedia Inc. (NASDAQ:NCMI) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,570 shares of the company’s stock after selling 210 shares during the period. First Mercantile Trust Co.’s holdings in National CineMedia were worth $102,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in National CineMedia during the fourth quarter worth $9,293,000. Bank of Montreal Can purchased a new stake in National CineMedia during the second quarter worth $6,764,000. State of New Jersey Common Pension Fund D increased its stake in National CineMedia by 96.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the company’s stock worth $9,443,000 after buying an additional 300,000 shares during the last quarter. Wellington Management Group LLP increased its stake in National CineMedia by 10.2% in the first quarter. Wellington Management Group LLP now owns 2,443,768 shares of the company’s stock worth $37,169,000 after buying an additional 226,207 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in National CineMedia by 5.3% in the second quarter. Vanguard Group Inc. now owns 4,438,472 shares of the company’s stock worth $68,708,000 after buying an additional 221,533 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
National CineMedia Inc. (NASDAQ:NCMI) opened at 14.37 on Friday. The stock’s 50 day moving average price is $14.79 and its 200 day moving average price is $14.82. National CineMedia Inc. has a 1-year low of $13.47 and a 1-year high of $16.33. The stock has a market capitalization of $859.84 million, a PE ratio of 51.69 and a beta of 0.43.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.03. National CineMedia had a net margin of 3.82% and a negative return on equity of 12.56%. The firm had revenue of $115.40 million for the quarter, compared to the consensus estimate of $115.52 million. During the same period in the previous year, the company posted $0.17 earnings per share. National CineMedia’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities research analysts predict that National CineMedia Inc. will post $0.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 25th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 6.12%. The ex-dividend date of this dividend was Tuesday, August 23rd. National CineMedia’s payout ratio is presently 314.29%.
A number of brokerages have commented on NCMI. B. Riley reaffirmed a “buy” rating and issued a $18.75 price target on shares of National CineMedia in a research note on Sunday, August 14th. Zacks Investment Research cut National CineMedia from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Wedbush reaffirmed an “outperform” rating and issued a $17.50 price target (down from $19.00) on shares of National CineMedia in a research note on Wednesday, August 10th. FBR & Co decreased their price target on National CineMedia from $18.50 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 9th. Finally, Stifel Nicolaus cut National CineMedia from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. National CineMedia presently has an average rating of “Buy” and an average price target of $17.72.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates the digital in-theatre media network in North America, through which it sells in-theatre and online advertising and promotions. The Company is engaged in advertising business.
Want to see what other hedge funds are holding NCMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National CineMedia Inc. (NASDAQ:NCMI).
Receive News & Ratings for National CineMedia Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National CineMedia Inc. and related companies with MarketBeat.com's FREE daily email newsletter.