Lunate Capital Ltd Invests $36.74 Million in National CineMedia, Inc. $NCMI

Lunate Capital Ltd purchased a new stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,146,376 shares of the business services provider’s stock, valued at approximately $36,740,000. National CineMedia comprises approximately 5.5% of Lunate Capital Ltd’s portfolio, making the stock its 5th biggest holding. Lunate Capital Ltd owned approximately 8.68% of National CineMedia as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the company. Orbis Allan Gray Ltd acquired a new stake in National CineMedia during the second quarter worth about $20,338,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in National CineMedia by 34.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,151,313 shares of the business services provider’s stock valued at $27,742,000 after purchasing an additional 1,568,376 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of National CineMedia by 17.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,774,325 shares of the business services provider’s stock valued at $8,003,000 after buying an additional 266,032 shares during the period. Luxor Capital Group LP grew its stake in shares of National CineMedia by 29.2% in the 3rd quarter. Luxor Capital Group LP now owns 1,074,058 shares of the business services provider’s stock valued at $4,844,000 after buying an additional 242,450 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of National CineMedia by 217.0% during the 2nd quarter. Squarepoint Ops LLC now owns 280,509 shares of the business services provider’s stock worth $1,359,000 after buying an additional 192,031 shares during the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NCMI shares. Weiss Ratings raised shares of National CineMedia from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Friday, February 27th. B. Riley Financial cut their target price on National CineMedia from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Zacks Research upgraded National CineMedia from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 18th. Barrington Research decreased their price target on National CineMedia from $6.50 to $5.50 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Finally, Benchmark lowered their price target on National CineMedia from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

National CineMedia Stock Performance

Shares of NCMI stock opened at $3.44 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.22 and a current ratio of 2.22. The firm has a market cap of $320.40 million, a P/E ratio of -34.40 and a beta of 1.36. The firm’s 50 day moving average price is $3.55 and its 200-day moving average price is $4.01. National CineMedia, Inc. has a one year low of $3.17 and a one year high of $6.18.

National CineMedia (NASDAQ:NCMI) last posted its earnings results on Thursday, February 26th. The business services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. National CineMedia had a negative net margin of 4.32% and a negative return on equity of 2.29%. As a group, equities research analysts predict that National CineMedia, Inc. will post -0.12 EPS for the current year.

National CineMedia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.5%. National CineMedia’s payout ratio is presently -120.00%.

Insider Activity

In related news, EVP Maria Vg Woods sold 9,043 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $3.89, for a total value of $35,177.27. Following the sale, the executive vice president owned 129,330 shares in the company, valued at approximately $503,093.70. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

About National CineMedia

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.