Riverwater Partners LLC Cuts Stock Holdings in National CineMedia, Inc. $NCMI

Riverwater Partners LLC cut its stake in shares of National CineMedia, Inc. (NASDAQ:NCMI) by 93.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,560 shares of the business services provider’s stock after selling 221,003 shares during the period. Riverwater Partners LLC’s holdings in National CineMedia were worth $66,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in National CineMedia by 59.8% in the first quarter. AQR Capital Management LLC now owns 488,025 shares of the business services provider’s stock valued at $2,850,000 after acquiring an additional 182,548 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of National CineMedia in the 1st quarter worth about $255,000. Goldman Sachs Group Inc. raised its holdings in shares of National CineMedia by 21.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 683,614 shares of the business services provider’s stock worth $3,992,000 after purchasing an additional 120,079 shares during the period. Jane Street Group LLC lifted its stake in shares of National CineMedia by 511.8% in the 1st quarter. Jane Street Group LLC now owns 93,061 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 77,849 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of National CineMedia during the 1st quarter worth about $43,000. 69.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. B. Riley cut their price target on shares of National CineMedia from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Barrington Research dropped their price objective on shares of National CineMedia from $6.50 to $5.50 and set an “outperform” rating for the company in a research report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of National CineMedia in a report on Monday, December 29th. Zacks Research raised shares of National CineMedia from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen raised National CineMedia from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, National CineMedia currently has an average rating of “Hold” and an average price target of $5.80.

National CineMedia Price Performance

Shares of NCMI stock opened at $3.73 on Wednesday. National CineMedia, Inc. has a 12 month low of $3.63 and a 12 month high of $7.25. The firm has a market capitalization of $349.99 million, a P/E ratio of -24.87 and a beta of 1.35. The company’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $4.30.

National CineMedia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.12 dividend on an annualized basis and a yield of 3.2%. National CineMedia’s dividend payout ratio is currently -80.00%.

Insiders Place Their Bets

In other National CineMedia news, EVP Maria Vg Woods sold 9,043 shares of National CineMedia stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $3.89, for a total transaction of $35,177.27. Following the sale, the executive vice president directly owned 129,330 shares in the company, valued at $503,093.70. The trade was a 6.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

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.