National CineMedia, Inc. (NCMI) Stake Boosted by Davidson & Garrard Inc.
Davidson & Garrard Inc. raised its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,735 shares of the business services provider’s stock after buying an additional 9,008 shares during the period. Davidson & Garrard Inc. owned approximately 0.24% of National CineMedia worth $1,081,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of National CineMedia during the second quarter valued at $137,000. Stevens Capital Management LP acquired a new stake in shares of National CineMedia during the first quarter valued at $138,000. Capital Fund Management S.A. acquired a new stake in shares of National CineMedia during the first quarter valued at $147,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of National CineMedia during the second quarter valued at $159,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of National CineMedia during the first quarter valued at $161,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.
National CineMedia, Inc. (NASDAQ:NCMI) traded down 1.97% on Monday, reaching $5.46. The company’s stock had a trading volume of 84,656 shares. National CineMedia, Inc. has a 52 week low of $5.32 and a 52 week high of $16.05. The firm has a market capitalization of $330.95 million, a price-to-earnings ratio of 17.06 and a beta of 0.64. The company has a 50 day moving average of $6.60 and a 200 day moving average of $9.51.
National CineMedia (NASDAQ:NCMI) last released its quarterly earnings results on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.04. National CineMedia had a negative return on equity of 16.58% and a net margin of 4.56%. The firm had revenue of $97.10 million for the quarter, compared to analysts’ expectations of $104.30 million. During the same period last year, the firm earned $0.11 EPS. The business’s quarterly revenue was down 15.9% on a year-over-year basis. On average, analysts forecast that National CineMedia, Inc. will post $0.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Saturday, August 12th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 15.80%. The ex-dividend date of this dividend is Wednesday, August 9th. National CineMedia’s dividend payout ratio (DPR) is 283.87%.
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Several equities research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and issued a $14.00 price target on shares of National CineMedia in a report on Saturday, August 12th. FBR & Co downgraded National CineMedia from an “outperform” rating to a “market perform” rating and set a $12.00 price objective on the stock. in a report on Friday, May 5th. Barrington Research downgraded National CineMedia from an “outperform” rating to a “market perform” rating in a report on Monday, May 15th. BidaskClub downgraded National CineMedia from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $8.00 price objective (down from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.51.
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.
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