JPMorgan Chase & Co. Sells 721,489 Shares of National CineMedia, Inc. (NASDAQ:NCMI)

JPMorgan Chase & Co. cut its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,573,935 shares of the business services provider's stock after selling 721,489 shares during the quarter. JPMorgan Chase & Co. owned 3.77% of National CineMedia worth $23,731,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in National CineMedia by 240.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,697 shares of the business services provider's stock valued at $5,088,000 after purchasing an additional 509,756 shares during the period. State Street Corp lifted its stake in shares of National CineMedia by 23.8% in the 3rd quarter. State Street Corp now owns 1,157,488 shares of the business services provider's stock valued at $8,160,000 after purchasing an additional 222,498 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of National CineMedia in the fourth quarter worth about $669,000. National Bank of Canada FI lifted its holdings in National CineMedia by 98.0% in the 3rd quarter. National Bank of Canada FI now owns 153,492 shares of the business services provider's stock worth $1,082,000 after purchasing an additional 75,978 shares during the last quarter. Finally, Kings Path Partners LLC bought a new stake in shares of National CineMedia during the 4th quarter worth $408,000. Institutional investors and hedge funds own 69.49% of the company's stock.

Remove Ads

National CineMedia Trading Up 0.8 %

Shares of NASDAQ NCMI traded up $0.05 during mid-day trading on Tuesday, hitting $5.86. The company's stock had a trading volume of 55,599 shares, compared to its average volume of 608,083. National CineMedia, Inc. has a one year low of $4.12 and a one year high of $7.60. The company's fifty day simple moving average is $6.21 and its 200-day simple moving average is $6.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market cap of $557.64 million, a price-to-earnings ratio of -23.44 and a beta of 1.92.

National CineMedia (NASDAQ:NCMI - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The business services provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $86.30 million during the quarter, compared to analysts' expectations of $84.77 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 anticipate that National CineMedia, Inc. will post -0.12 earnings per share for the current fiscal year.

National CineMedia Dividend Announcement

The company also recently disclosed a -- dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 24th were given a $0.03 dividend. The ex-dividend date was Monday, March 24th. National CineMedia's dividend payout ratio is currently -52.17%.

Analyst Ratings Changes

NCMI has been the subject of several recent analyst reports. William Blair restated a "neutral" rating and set a $7.50 target price on shares of National CineMedia in a research note on Friday, March 7th. Barrington Research reiterated an "outperform" rating and set a $7.00 target price on shares of National CineMedia in a research report on Friday, March 14th. StockNews.com raised National CineMedia from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th. Benchmark reaffirmed a "buy" rating and set a $8.00 price objective on shares of National CineMedia in a research note on Friday, March 7th. Finally, Wedbush upgraded National CineMedia from a "neutral" rating to an "outperform" rating and set a $7.50 target price on the stock in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.70.

Insiders Place Their Bets

In related news, major shareholder Blantyre Capital Ltd acquired 103,685 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $5.18 per share, for a total transaction of $537,088.30. Following the completion of the acquisition, the insider now directly owns 10,310,433 shares in the company, valued at approximately $53,408,042.94. The trade was a 1.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company's stock.

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.