Price T Rowe Associates Inc. MD decreased its holdings in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,334,864 shares of the business services provider’s stock after selling 20,200 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.08% of National CineMedia worth $23,566,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. California Public Employees Retirement System grew its stake in National CineMedia by 4.4% in the third quarter. California Public Employees Retirement System now owns 148,642 shares of the business services provider’s stock valued at $404,000 after purchasing an additional 6,200 shares in the last quarter. Credit Suisse AG grew its stake in National CineMedia by 238.5% in the fourth quarter. Credit Suisse AG now owns 285,618 shares of the business services provider’s stock valued at $1,062,000 after purchasing an additional 201,232 shares in the last quarter. Victory Capital Management Inc. grew its stake in National CineMedia by 1,663.5% in the third quarter. Victory Capital Management Inc. now owns 205,396 shares of the business services provider’s stock valued at $558,000 after purchasing an additional 193,749 shares in the last quarter. SG Americas Securities LLC purchased a new position in National CineMedia in the fourth quarter valued at about $47,000. Finally, Aperio Group LLC purchased a new position in National CineMedia in the third quarter valued at about $53,000. Institutional investors and hedge funds own 80.16% of the company’s stock.
NCMI opened at $4.52 on Thursday. The company has a market cap of $358.66 million, a PE ratio of -30.13 and a beta of 1.91. The stock has a 50-day moving average of $4.85 and a 200-day moving average of $3.68. National CineMedia, Inc. has a 52-week low of $1.81 and a 52-week high of $6.11.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Investors of record on Monday, March 22nd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 19th. This represents a $0.20 annualized dividend and a dividend yield of 4.42%. National CineMedia’s dividend payout ratio is presently 42.55%.
NCMI has been the topic of a number of recent research reports. Benchmark upgraded National CineMedia from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Wednesday. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of National CineMedia in a research note on Monday. Finally, Zacks Investment Research downgraded National CineMedia from a “hold” rating to a “sell” rating in a research note on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.45.
In related news, CEO Thomas F. Lesinski sold 22,000 shares of the business’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $4.90, for a total transaction of $107,800.00. Following the completion of the transaction, the chief executive officer now owns 112,377 shares of the company’s stock, valued at approximately $550,647.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Clifford E. Marks sold 150,000 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $4.60, for a total value of $690,000.00. Following the transaction, the president now directly owns 599,982 shares of the company’s stock, valued at approximately $2,759,917.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,170,718 shares of company stock valued at $12,158,993 in the last three months. 4.00% of the stock is owned by insiders.
National CineMedia Profile
National CineMedia, Inc, through its subsidiary, National CineMedia, LLC, operates a digital in-theater network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-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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