Northern Trust Corp Boosts Stake in National CineMedia, Inc. (NASDAQ:NCMI)

Northern Trust Corp raised its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 657,802 shares of the business services provider’s stock after acquiring an additional 16,297 shares during the quarter. Northern Trust Corp’s holdings in National CineMedia were worth $4,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ranger Investment Management L.P. bought a new position in shares of National CineMedia in the 4th quarter worth $4,058,000. Riverwater Partners LLC raised its holdings in National CineMedia by 296.7% in the fourth quarter. Riverwater Partners LLC now owns 270,307 shares of the business services provider’s stock worth $1,795,000 after purchasing an additional 202,164 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of National CineMedia by 126.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 273,711 shares of the business services provider’s stock valued at $1,817,000 after buying an additional 152,777 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of National CineMedia in the 4th quarter valued at about $988,000. Finally, Wellington Management Group LLP boosted its holdings in shares of National CineMedia by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 2,923,516 shares of the business services provider’s stock valued at $19,412,000 after buying an additional 132,895 shares in the last quarter. 69.49% of the stock is currently owned by hedge funds and other institutional investors.

National CineMedia Price Performance

Shares of NASDAQ:NCMI opened at $4.96 on Thursday. National CineMedia, Inc. has a twelve month low of $4.12 and a twelve month high of $7.60. The company’s 50 day moving average is $5.67 and its 200 day moving average is $6.34. 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 company has a market cap of $467.75 million, a PE ratio of -19.84 and a beta of 2.12.

National CineMedia (NASDAQ:NCMI) last released its quarterly earnings data on Tuesday, May 6th. The business services provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The business had revenue of $34.90 million during the quarter, compared to analysts’ expectations of $35.13 million. National CineMedia had a negative net margin of 9.49% and a negative return on equity of 2.61%. On average, sell-side analysts forecast that National CineMedia, Inc. will post -0.12 EPS for the current year.

National CineMedia Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, May 16th. National CineMedia’s payout ratio is -63.16%.

Insiders Place Their Bets

In other news, major shareholder Blantyre Capital Ltd acquired 103,685 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $5.18 per share, with a total value of $537,088.30. Following the purchase, the insider now directly owns 10,310,433 shares of the company’s stock, valued at $53,408,042.94. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NCMI shares. Benchmark reaffirmed a “buy” rating and issued a $8.00 price target on shares of National CineMedia in a report on Friday, March 7th. Wedbush reiterated an “outperform” rating and issued a $7.50 price target on shares of National CineMedia in a research note on Thursday, May 1st. Barrington Research restated an “outperform” rating and set a $7.00 price target on shares of National CineMedia in a research note on Friday, March 14th. B. Riley downgraded shares of National CineMedia from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a report on Friday, May 16th. Finally, William Blair reaffirmed a “neutral” rating and issued a $7.50 price objective on shares of National CineMedia in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, National CineMedia has an average rating of “Hold” and a consensus price target of $7.20.

National CineMedia Company Profile

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.