National CineMedia, Inc. (NCMI) Position Boosted by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D boosted its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 87.6% during the second quarter, Holdings Channel reports. The firm owned 2,120,000 shares of the business services provider’s stock after buying an additional 990,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in National CineMedia were worth $15,730,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new stake in National CineMedia during the second quarter worth about $137,000. Stevens Capital Management LP purchased a new stake in National CineMedia during the first quarter worth about $138,000. Capital Fund Management S.A. purchased a new stake in National CineMedia during the first quarter worth about $147,000. Quantitative Systematic Strategies LLC purchased a new stake in National CineMedia during the second quarter worth about $159,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in National CineMedia during the first quarter worth about $161,000. Institutional investors own 91.17% of the company’s stock.
National CineMedia, Inc. (NASDAQ:NCMI) opened at 6.70 on Tuesday. The company has a 50-day moving average of $7.44 and a 200 day moving average of $10.54. The firm has a market cap of $405.99 million, a price-to-earnings ratio of 16.42 and a beta of 0.64. National CineMedia, Inc. has a 52-week low of $5.86 and a 52-week high of $16.10.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.04. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $104.30 million. National CineMedia had a net margin of 5.57% and a negative return on equity of 17.15%. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. On average, equities research analysts anticipate that National CineMedia, Inc. will post $0.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Saturday, August 12th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 13.13%. The ex-dividend date of this dividend is Wednesday, August 9th. National CineMedia’s dividend payout ratio is currently 220.01%.
NCMI has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $14.00 price target on shares of National CineMedia in a report on Wednesday, August 2nd. Barrington Research cut shares of National CineMedia from an “outperform” rating to a “market perform” rating in a report on Monday, May 15th. FBR & Co cut shares of National CineMedia from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Friday, May 5th. Finally, J P Morgan Chase & Co cut shares of National CineMedia from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $12.00 in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.08.
National CineMedia Company 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.
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.