Luxor Capital Group LP Raises Holdings in National CineMedia, Inc. $NCMI

Key Points

• Luxor Capital Group increased its stake in National CineMedia by 61.3% in the first quarter, making the stock its 25th-largest position and bringing its holdings to 1.94% of the company.
• National CineMedia reported quarterly earnings of -$0.23 per share, beating Wall Street expectations, and revenue of $34.0 million, also above estimates.
• The company recently paid a quarterly dividend of $0.03 per share for a 3.2% annualized yield, while analysts currently rate the stock Hold on average with a consensus target price of $5.38.

Luxor Capital Group LP boosted its position in National CineMedia, Inc. (NASDAQ:NCMI - Free Report) by 61.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,820,737 shares of the business services provider's stock after acquiring an additional 691,879 shares during the quarter. National CineMedia accounts for 0.4% of Luxor Capital Group LP's investment portfolio, making the stock its 25th biggest position. Luxor Capital Group LP owned 1.94% of National CineMedia worth $5,553,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in National CineMedia by 2.2% during the second quarter. American Century Companies Inc. now owns 145,233 shares of the business services provider's stock worth $704,000 after acquiring an additional 3,110 shares during the last quarter. EntryPoint Capital LLC increased its position in National CineMedia by 8.1% during the 4th quarter. EntryPoint Capital LLC now owns 55,439 shares of the business services provider's stock worth $216,000 after purchasing an additional 4,142 shares in the last quarter. Inscription Capital LLC increased its position in National CineMedia by 32.7% during the 4th quarter. Inscription Capital LLC now owns 17,214 shares of the business services provider's stock worth $67,000 after purchasing an additional 4,246 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in National CineMedia by 16.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,712 shares of the business services provider's stock valued at $151,000 after buying an additional 5,390 shares during the period. Finally, Pacific Ridge Capital Partners LLC raised its holdings in National CineMedia by 4.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 124,626 shares of the business services provider's stock valued at $485,000 after buying an additional 5,440 shares during the period. Hedge funds and other institutional investors own 69.49% of the company's stock.

National CineMedia Stock Performance

Shares of NASDAQ:NCMI opened at $3.77 on Friday. The business's 50-day simple moving average is $3.57 and its 200 day simple moving average is $3.50. The company has a market cap of $353.55 million, a P/E ratio of -41.88 and a beta of 1.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.82 and a current ratio of 1.82. National CineMedia, Inc. has a one year low of $2.78 and a one year high of $5.09.

National CineMedia (NASDAQ:NCMI - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The business services provider reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.03. The firm had revenue of $34.00 million during the quarter, compared to analysts' expectations of $32.92 million. National CineMedia had a negative return on equity of 1.80% and a negative net margin of 3.47%. On average, sell-side analysts forecast that National CineMedia, Inc. will post -0.01 earnings per share for the current fiscal year.

National CineMedia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, May 22nd. National CineMedia's dividend payout ratio (DPR) is presently -133.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wedbush decreased their price objective on shares of National CineMedia from $6.50 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of National CineMedia from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of National CineMedia from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.38.

Insiders Place Their Bets

In related news, insider Maria Vg Woods sold 12,058 shares of National CineMedia stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $3.77, for a total transaction of $45,458.66. Following the sale, the insider owned 163,162 shares of the company's stock, valued at $615,120.74. The trade was a 6.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

National CineMedia Profile

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.

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