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.
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
Want to see what other hedge funds are holding NCMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National CineMedia, Inc. (NASDAQ:NCMI).
Receive News & Ratings for National CineMedia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National CineMedia and related companies with MarketBeat.com's FREE daily email newsletter.