New Jersey Better Educational Savings Trust boosted its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 60.0% during the second quarter, Holdings Channel reports. The firm owned 64,000 shares of the business services provider’s stock after buying an additional 24,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in National CineMedia were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. State of New Jersey Common Pension Fund D raised its stake in shares of National CineMedia by 87.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 2,120,000 shares of the business services provider’s stock worth $15,730,000 after buying an additional 990,000 shares during the period. Norges Bank purchased a new stake in shares of National CineMedia during the fourth quarter worth $9,204,000. Skylands Capital LLC raised its stake in shares of National CineMedia by 714.4% in the second quarter. Skylands Capital LLC now owns 575,750 shares of the business services provider’s stock worth $4,272,000 after buying an additional 505,050 shares during the period. Citadel Advisors LLC raised its stake in shares of National CineMedia by 452.8% in the first quarter. Citadel Advisors LLC now owns 413,249 shares of the business services provider’s stock worth $5,219,000 after buying an additional 338,498 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of National CineMedia by 8.3% in the first quarter. Wellington Management Group LLP now owns 4,136,636 shares of the business services provider’s stock worth $52,246,000 after buying an additional 316,814 shares during the period. 91.17% of the stock is owned by institutional investors and hedge funds.

National CineMedia, Inc. (NASDAQ NCMI) opened at 5.79 on Friday. The stock has a 50 day moving average price of $7.16 and a 200-day moving average price of $10.21. National CineMedia, Inc. has a one year low of $5.75 and a one year high of $16.05. The stock has a market capitalization of $350.85 million, a P/E ratio of 18.09 and a beta of 0.64.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.04. The company had revenue of $97.10 million during the quarter, compared to analyst estimates of $104.30 million. National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. Analysts anticipate that National CineMedia, Inc. will post $0.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Saturday, August 12th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 15.20%. The ex-dividend date is Wednesday, August 9th. National CineMedia’s payout ratio is currently 283.87%.

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NCMI has been the subject of a number of research analyst reports. Barrington Research lowered National CineMedia from an “outperform” rating to a “market perform” rating in a research report on Monday, May 15th. BidaskClub lowered National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. J P Morgan Chase & Co lowered National CineMedia from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $12.00 in a research report on Friday, May 5th. Zacks Investment Research lowered National CineMedia from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, Wedbush initiated coverage on National CineMedia in a research report on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 target price for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. National CineMedia currently has a consensus rating of “Hold” and an average price target of $12.51.

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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Institutional Ownership by Quarter for National CineMedia (NASDAQ:NCMI)

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