Sycale Advisors NY LLC Sells 1,587,828 Shares of National CineMedia, Inc. $NCMI

Sycale Advisors NY LLC trimmed its holdings in National CineMedia, Inc. (NASDAQ:NCMI) by 52.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,451,498 shares of the business services provider’s stock after selling 1,587,828 shares during the period. National CineMedia comprises about 2.2% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 13th largest holding. Sycale Advisors NY LLC owned about 1.56% of National CineMedia worth $4,427,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NCMI. Strs Ohio bought a new position in shares of National CineMedia during the 1st quarter valued at about $43,000. Quantbot Technologies LP acquired a new stake in National CineMedia during the 3rd quarter worth approximately $34,000. Graham Capital Management L.P. acquired a new stake in National CineMedia during the 4th quarter worth approximately $40,000. BNP Paribas Financial Markets lifted its stake in National CineMedia by 103.2% in the third quarter. BNP Paribas Financial Markets now owns 12,895 shares of the business services provider’s stock valued at $58,000 after buying an additional 6,549 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of National CineMedia in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 69.49% of the company’s stock.

Wall Street Analyst Weigh In

NCMI has been the subject of several research reports. Wall Street Zen raised shares of National CineMedia from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings lowered shares of National CineMedia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, Wedbush lowered their target price on National CineMedia from $6.50 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, National CineMedia presently has a consensus rating of “Hold” and a consensus price target of $5.38.

Insiders Place Their Bets

In other National CineMedia news, insider Maria Vg Woods sold 12,058 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $3.77, for a total transaction of $45,458.66. Following the transaction, the insider owned 163,162 shares of the company’s stock, valued at $615,120.74. The trade was a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

National CineMedia Stock Performance

Shares of NCMI stock opened at $3.82 on Thursday. National CineMedia, Inc. has a 12 month low of $2.78 and a 12 month high of $5.14. The company’s fifty day simple moving average is $3.54 and its 200-day simple moving average is $3.50. The firm has a market cap of $358.24 million, a PE ratio of -42.44 and a beta of 1.36. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.03.

National CineMedia (NASDAQ:NCMI) last issued its quarterly earnings results on Tuesday, May 12th. The business services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.03. National CineMedia had a negative net margin of 3.47% and a negative return on equity of 1.80%. The firm had revenue of $34.00 million for the quarter, compared to analysts’ expectations of $32.92 million. Equities research analysts expect that National CineMedia, Inc. will post -0.01 EPS for the current fiscal year.

National CineMedia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.12 annualized dividend and a yield of 3.1%. National CineMedia’s dividend payout ratio is -133.33%.

National CineMedia 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.