Marshall Wace LLP Sells 301,844 Shares of National CineMedia, Inc. (NASDAQ:NCMI)

Marshall Wace LLP reduced its holdings in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 56.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 237,536 shares of the business services provider’s stock after selling 301,844 shares during the period. Marshall Wace LLP’s holdings in National CineMedia were worth $1,204,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Wasatch Advisors Inc. lifted its position in shares of National CineMedia by 6.8% during the 2nd quarter. Wasatch Advisors Inc. now owns 6,180,696 shares of the business services provider’s stock worth $31,336,000 after buying an additional 393,652 shares during the last quarter. Aristeia Capital LLC bought a new stake in shares of National CineMedia during the 2nd quarter worth $7,446,000. State Street Corp lifted its position in shares of National CineMedia by 2.0% during the 2nd quarter. State Street Corp now owns 1,193,137 shares of the business services provider’s stock worth $6,049,000 after buying an additional 22,839 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of National CineMedia by 0.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,184,438 shares of the business services provider’s stock worth $6,006,000 after buying an additional 7,182 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of National CineMedia by 11,156.6% during the 2nd quarter. Morgan Stanley now owns 275,787 shares of the business services provider’s stock worth $1,398,000 after buying an additional 273,337 shares during the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.

In other news, insider Scott D. Felenstein sold 12,500 shares of the firm’s stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $2.79, for a total transaction of $34,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Several equities analysts have commented on NCMI shares. B. Riley dropped their target price on National CineMedia from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. Zacks Investment Research upgraded National CineMedia from a “sell” rating to a “hold” rating in a research report on Tuesday, November 16th. Barrington Research reiterated a “buy” rating and issued a $5.50 target price on shares of National CineMedia in a research report on Tuesday, August 10th. Finally, Wedbush upgraded National CineMedia from a “neutral” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Thursday, November 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $5.63.

Shares of NCMI opened at $3.15 on Thursday. National CineMedia, Inc. has a 1 year low of $2.41 and a 1 year high of $6.11. The company has a market capitalization of $253.72 million, a price-to-earnings ratio of -2.69 and a beta of 1.48. The business has a 50-day moving average of $3.45 and a 200-day moving average of $3.74.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings data on Monday, November 8th. The business services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.06). The firm had revenue of $31.70 million during the quarter, compared to the consensus estimate of $41.24 million. During the same period last year, the business earned ($0.16) EPS. National CineMedia’s revenue was up 428.3% compared to the same quarter last year. On average, research analysts predict that National CineMedia, Inc. will post -0.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Monday, November 22nd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.35%. National CineMedia’s dividend payout ratio (DPR) is -17.09%.

National CineMedia Profile

National CineMedia, Inc is a holding company. It engages in the provision of advertising, business meetings, event services, and third-party theatre circuits under network affiliate agreements. The firm owns and operates the digital in-theatre network, which is used to distribute content for its advertising promotions, Fathom Events.

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Institutional Ownership by Quarter for National CineMedia (NASDAQ:NCMI)

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