National CineMedia Inc. (NCMI) Stake Boosted by Macquarie Group Ltd.
Macquarie Group Ltd. raised its position in shares of National CineMedia Inc. (NASDAQ:NCMI) by 27.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 984,936 shares of the company’s stock after buying an additional 210,246 shares during the period. Macquarie Group Ltd.’s holdings in National CineMedia were worth $15,247,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. New Jersey Better Educational Savings Trust purchased a new stake in National CineMedia during the second quarter valued at $650,000. 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 valued at $9,443,000 after buying an additional 300,000 shares during the period. Palisade Capital Management LLC NJ increased its stake in National CineMedia by 6.2% in the second quarter. Palisade Capital Management LLC NJ now owns 256,635 shares of the company’s stock valued at $3,973,000 after buying an additional 15,027 shares during the period. Mondrian Investment Partners LTD increased its stake in National CineMedia by 8.2% in the second quarter. Mondrian Investment Partners LTD now owns 282,576 shares of the company’s stock valued at $4,374,000 after buying an additional 21,358 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in National CineMedia by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 631,772 shares of the company’s stock valued at $9,779,000 after buying an additional 21,739 shares during the period. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
National CineMedia Inc. (NASDAQ:NCMI) traded down 0.82% on Tuesday, hitting $15.69. The stock had a trading volume of 138,889 shares. National CineMedia Inc. has a 52-week low of $13.37 and a 52-week high of $16.33. The stock’s 50-day moving average is $14.48 and its 200-day moving average is $14.85. The company has a market cap of $939.09 million, a P/E ratio of 54.29 and a beta of 0.87.
National CineMedia (NASDAQ:NCMI) last posted its earnings results on Monday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The company earned $113.50 million during the quarter, compared to analyst estimates of $114.52 million. National CineMedia had a net margin of 3.92% and a negative return on equity of 13.70%. National CineMedia’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts expect that National CineMedia Inc. will post $0.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.56%. National CineMedia’s dividend payout ratio is currently 314.30%.
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Several research firms recently weighed in on NCMI. B. Riley reissued a “buy” rating and set a $18.75 price objective (down previously from $20.00) on shares of National CineMedia in a report on Tuesday, August 9th. FBR & Co cut their price objective on National CineMedia from $18.50 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, August 9th. Zacks Investment Research raised National CineMedia from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Wedbush reissued an “outperform” rating and set a $17.50 price objective (down previously from $19.00) on shares of National CineMedia in a report on Wednesday, August 10th. Finally, Benchmark Co. raised their price objective on National CineMedia from $17.81 to $18.08 and gave the company a “buy” rating in a report on Tuesday, November 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.06.
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.
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