Harbor Capital Advisors Inc. lifted its position in shares of National CineMedia, Inc. (NASDAQ:NCMI - Free Report) by 18.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,030 shares of the business services provider's stock after buying an additional 87,562 shares during the period. Harbor Capital Advisors Inc. owned about 0.59% of National CineMedia worth $3,294,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of NCMI. GAMMA Investing LLC grew its position in shares of National CineMedia by 502.0% in the 1st quarter. GAMMA Investing LLC now owns 5,081 shares of the business services provider's stock worth $30,000 after buying an additional 4,237 shares during the period. Summit Securities Group LLC purchased a new stake in National CineMedia during the 4th quarter valued at $53,000. BNP Paribas Financial Markets purchased a new position in shares of National CineMedia in the fourth quarter worth $57,000. DRW Securities LLC purchased a new stake in shares of National CineMedia during the fourth quarter valued at $73,000. Finally, Quarry LP bought a new stake in National CineMedia in the 4th quarter worth about $91,000. Hedge funds and other institutional investors own 69.49% of the company's stock.
Analysts Set New Price Targets
Several research firms have issued reports on NCMI. B. Riley cut shares of National CineMedia from a "buy" rating to a "neutral" rating and set a $6.00 target price on the stock. in a research note on Friday, May 16th. Barrington Research restated an "outperform" rating and issued a $7.00 target price on shares of National CineMedia in a report on Friday, March 14th. Wall Street Zen lowered shares of National CineMedia from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Benchmark reissued a "buy" rating and set a $8.00 price target on shares of National CineMedia in a report on Friday, March 7th. Finally, William Blair restated a "neutral" rating and issued a $7.50 price target on shares of National CineMedia in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, National CineMedia currently has an average rating of "Hold" and an average price target of $7.20.
Get Our Latest Stock Analysis on National CineMedia
National CineMedia Price Performance
National CineMedia stock traded down $0.04 during mid-day trading on Friday, hitting $5.29. The stock had a trading volume of 212,997 shares, compared to its average volume of 648,438. National CineMedia, Inc. has a one year low of $4.12 and a one year high of $7.60. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $498.40 million, a P/E ratio of -21.14 and a beta of 2.12. The firm's 50 day moving average is $5.46 and its 200 day moving average is $6.17.
National CineMedia (NASDAQ:NCMI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The business services provider reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.04). The firm had revenue of $34.90 million during the quarter, compared to analysts' expectations of $35.13 million. National CineMedia had a negative return on equity of 2.61% and a negative net margin of 9.49%. On average, sell-side analysts forecast that National CineMedia, Inc. will post -0.12 earnings per share for the current fiscal year.
National CineMedia Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, May 16th. National CineMedia's dividend payout ratio is currently -63.16%.
About National CineMedia
(
Free Report)
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies.
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