BNP Paribas Arbitrage SA Grows Stock Holdings in National CineMedia, Inc. (NASDAQ:NCMI)

BNP Paribas Arbitrage SA grew its holdings in National CineMedia, Inc. (NASDAQ:NCMI) by 21.2% during the 1st quarter, Holdings Channel reports. The fund owned 20,804 shares of the business services provider’s stock after purchasing an additional 3,643 shares during the period. BNP Paribas Arbitrage SA’s holdings in National CineMedia were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Kovack Advisors Inc. purchased a new stake in National CineMedia during the first quarter worth $38,000. Dynamic Technology Lab Private Ltd purchased a new stake in National CineMedia during the first quarter worth $46,000. Arizona State Retirement System purchased a new stake in National CineMedia during the first quarter worth $49,000. Janney Montgomery Scott LLC boosted its holdings in National CineMedia by 53.8% during the first quarter. Janney Montgomery Scott LLC now owns 16,940 shares of the business services provider’s stock worth $55,000 after buying an additional 5,924 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in National CineMedia by 22.7% during the first quarter. Envestnet Asset Management Inc. now owns 20,291 shares of the business services provider’s stock worth $66,000 after buying an additional 3,758 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ NCMI opened at $2.96 on Wednesday. The firm has a 50-day simple moving average of $3.02 and a 200-day simple moving average of $5.06. The stock has a market capitalization of $238.08 million, a price-to-earnings ratio of 7.05 and a beta of 1.02. National CineMedia, Inc. has a 52 week low of $1.62 and a 52 week high of $9.85.

National CineMedia (NASDAQ:NCMI) last issued its earnings results on Tuesday, May 5th. The business services provider reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.01). The business had revenue of $64.70 million during the quarter, compared to analyst estimates of $64.23 million. National CineMedia had a net margin of 7.74% and a negative return on equity of 27.33%. National CineMedia’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. Equities research analysts expect that National CineMedia, Inc. will post -0.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 9.46%. The ex-dividend date was Friday, May 15th. National CineMedia’s dividend payout ratio (DPR) is 59.57%.

In other news, major shareholder General L.P. Standard acquired 715,025 shares of the company’s stock in a transaction that occurred on Friday, April 3rd. The stock was purchased at an average price of $2.51 per share, with a total value of $1,794,712.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 953,667 shares of company stock valued at $2,413,939 over the last quarter. Company insiders own 4.00% of the company’s stock.

NCMI has been the topic of a number of recent analyst reports. MKM Partners lowered their price target on shares of National CineMedia from $8.50 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Wedbush reduced their price objective on shares of National CineMedia from $10.00 to $4.50 and set an “outperform” rating for the company in a research report on Monday, May 4th. B. Riley restated a “buy” rating and set a $6.00 price objective on shares of National CineMedia in a research report on Thursday, June 18th. Benchmark cut shares of National CineMedia from a “buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, TheStreet cut shares of National CineMedia from a “c” rating to a “d+” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $7.46.

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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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