Squarepoint Ops LLC Grows Position in National CineMedia, Inc. $NCMI

Squarepoint Ops LLC grew its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 217.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,509 shares of the business services provider’s stock after purchasing an additional 192,031 shares during the quarter. Squarepoint Ops LLC owned approximately 0.30% of National CineMedia worth $1,359,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Strs Ohio acquired a new stake in National CineMedia during the first quarter valued at $43,000. Legal & General Group Plc grew its position in shares of National CineMedia by 137.1% during the 2nd quarter. Legal & General Group Plc now owns 14,327 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 8,285 shares during the period. Ieq Capital LLC increased its stake in shares of National CineMedia by 21.4% in the 1st quarter. Ieq Capital LLC now owns 17,001 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 3,001 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of National CineMedia in the 1st quarter valued at about $120,000. Finally, EntryPoint Capital LLC purchased a new position in National CineMedia during the first quarter worth approximately $136,000. 69.49% of the stock is currently owned by institutional investors and hedge funds.

National CineMedia Trading Down 3.7%

NASDAQ:NCMI opened at $3.86 on Friday. The company has a market cap of $362.18 million, a P/E ratio of -25.73 and a beta of 1.36. National CineMedia, Inc. has a twelve month low of $3.81 and a twelve month high of $7.25. The company’s 50-day moving average price is $4.15 and its 200-day moving average price is $4.54.

National CineMedia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, November 10th. National CineMedia’s payout ratio is currently -80.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on NCMI. Barrington Research cut their price objective on National CineMedia from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday, October 31st. Zacks Research lowered shares of National CineMedia from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective (down from $7.00) on shares of National CineMedia in a report on Friday, October 31st. Wall Street Zen upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of National CineMedia in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, National CineMedia has a consensus rating of “Hold” and an average target price of $6.60.

Insider Activity

In other news, EVP Maria Vg Woods sold 9,039 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $4.44, for a total value of $40,133.16. Following the completion of the sale, the executive vice president directly owned 118,998 shares in the company, valued at $528,351.12. This represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

About National CineMedia

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.