Lapides Asset Management LLC Has $761,000 Holdings in National CineMedia, Inc. (NCMI)
Lapides Asset Management LLC grew its position in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 831.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,000 shares of the business services provider’s stock after purchasing an additional 97,300 shares during the period. Lapides Asset Management LLC owned 0.17% of National CineMedia worth $761,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NCMI. Pacad Investment Ltd. boosted its stake in shares of National CineMedia by 690.2% during the 2nd quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after purchasing an additional 12,423 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new stake in shares of National CineMedia during the 3rd quarter worth about $136,000. Fox Run Management L.L.C. acquired a new stake in shares of National CineMedia in the second quarter worth approximately $137,000. Stifel Financial Corp boosted its position in shares of National CineMedia by 30.5% in the second quarter. Stifel Financial Corp now owns 19,126 shares of the business services provider’s stock worth $142,000 after acquiring an additional 4,468 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of National CineMedia in the second quarter worth approximately $142,000. 69.51% of the stock is currently owned by institutional investors.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of National CineMedia stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Amc Starplex, Llc sold 2,800,000 shares of National CineMedia stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $6.49, for a total transaction of $18,172,000.00. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.
National CineMedia, Inc. (NASDAQ NCMI) traded down $0.22 during midday trading on Thursday, reaching $5.71. 631,800 shares of the company traded hands, compared to its average volume of 694,850. National CineMedia, Inc. has a 52-week low of $5.12 and a 52-week high of $16.05. The company has a debt-to-equity ratio of -14.71, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $465.51, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.65.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. National CineMedia had a net margin of 4.81% and a negative return on equity of 21.45%. The firm had revenue of $116.40 million for the quarter, compared to analyst estimates of $108.21 million. During the same quarter last year, the firm posted $0.13 earnings per share. National CineMedia’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts anticipate that National CineMedia, Inc. will post 0.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, November 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 15.41%. National CineMedia’s dividend payout ratio is currently 266.67%.
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Several equities research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $14.00 target price on shares of National CineMedia in a research report on Saturday, August 12th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $8.00 target price (down from $12.00) on shares of National CineMedia in a research report on Tuesday, August 8th. Wedbush assumed coverage on shares of National CineMedia in a research report on Wednesday, August 2nd. They issued a “neutral” rating and a $6.50 target price on the stock. Zacks Investment Research raised shares of National CineMedia from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group decreased their target price on shares of National CineMedia from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. National CineMedia presently has a consensus rating of “Hold” and an average target price of $7.90.
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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