National CineMedia, Inc. $NCMI Stake Lowered by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its stake in National CineMedia, Inc. (NASDAQ:NCMI) by 72.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,942 shares of the business services provider’s stock after selling 325,717 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.13% of National CineMedia worth $559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Strs Ohio acquired a new position in National CineMedia in the 1st quarter worth about $43,000. Legal & General Group Plc raised its position in National CineMedia by 137.1% during the second quarter. Legal & General Group Plc now owns 14,327 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 8,285 shares in the last quarter. Ieq Capital LLC lifted its stake in National CineMedia by 21.4% in the first quarter. Ieq Capital LLC now owns 17,001 shares of the business services provider’s stock valued at $99,000 after acquiring an additional 3,001 shares during the last quarter. Magnetar Financial LLC bought a new stake in National CineMedia in the first quarter worth approximately $120,000. Finally, JT Stratford LLC acquired a new position in shares of National CineMedia during the 2nd quarter worth $140,000. Institutional investors and hedge funds own 69.49% of the company’s stock.

National CineMedia Stock Performance

NASDAQ NCMI opened at $3.92 on Monday. The stock has a 50-day simple moving average of $4.12 and a 200 day simple moving average of $4.48. National CineMedia, Inc. has a twelve month low of $3.81 and a twelve month high of $7.25. The stock has a market capitalization of $367.81 million, a PE ratio of -26.13 and a beta of 1.36.

National CineMedia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were paid a $0.03 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.12 annualized dividend and a dividend yield of 3.1%. National CineMedia’s dividend payout ratio (DPR) is presently -80.00%.

Insider Transactions at National CineMedia

In related news, EVP Maria Vg Woods sold 9,039 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $4.44, for a total transaction of $40,133.16. Following the completion of the transaction, the executive vice president directly owned 118,998 shares in the company, valued at $528,351.12. This represents a 7.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NCMI shares. Wall Street Zen upgraded shares of National CineMedia from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of National CineMedia in a research report on Monday, December 22nd. Barrington Research lowered their price objective on National CineMedia from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday, October 31st. Zacks Research raised National CineMedia from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 target price (down previously from $7.00) on shares of National CineMedia in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, National CineMedia has a consensus rating of “Hold” and a consensus target price of $6.60.

National CineMedia Company Profile

National CineMedia, Inc is a leading U.S. out-of-home media company specializing in cinema advertising. The firm operates a proprietary network that delivers high-impact advertising content to moviegoers across a broad footprint of theaters, offering brands a targeted and immersive way to engage audiences in a captive, distraction-free environment.

Founded in 2003 and headquartered in Centennial, Colorado, National CineMedia began as a joint venture among several major exhibition chains.