Bronfman E.L. Rothschild L.P. lifted its stake in shares of Regal Entertainment Group (NYSE:RGC) by 169.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,519 shares of the company’s stock after buying an additional 3,471 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Regal Entertainment Group were worth $113,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of Regal Entertainment Group by 2.1% during the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock worth $153,000 after buying an additional 145 shares in the last quarter. Camelot Portfolios LLC grew its position in shares of Regal Entertainment Group by 1.0% during the second quarter. Camelot Portfolios LLC now owns 20,941 shares of the company’s stock worth $428,000 after buying an additional 205 shares in the last quarter. CIBC World Markets Inc. grew its position in shares of Regal Entertainment Group by 1.7% during the first quarter. CIBC World Markets Inc. now owns 16,713 shares of the company’s stock worth $377,000 after buying an additional 275 shares in the last quarter. Commerce Bank grew its position in shares of Regal Entertainment Group by 2.4% during the first quarter. Commerce Bank now owns 12,665 shares of the company’s stock worth $286,000 after buying an additional 300 shares in the last quarter. Finally, Farmers National Bank grew its position in shares of Regal Entertainment Group by 6.6% during the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock worth $176,000 after buying an additional 500 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on RGC. Hilliard Lyons raised Regal Entertainment Group to a “buy” rating in a research report on Thursday, May 18th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 27th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Regal Entertainment Group in a report on Tuesday, August 1st. Zacks Investment Research downgraded Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Finally, Morgan Stanley lowered their price target on Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Regal Entertainment Group presently has an average rating of “Hold” and a consensus target price of $24.43.
In other Regal Entertainment Group news, CFO David Ownby purchased 7,500 shares of the stock in a transaction dated Thursday, August 24th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the acquisition, the chief financial officer now owns 229,573 shares of the company’s stock, valued at approximately $3,223,204.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the acquisition, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. Insiders have bought 242,500 shares of company stock worth $641,000 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.
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Shares of Regal Entertainment Group (NYSE RGC) opened at 14.75 on Friday. The firm has a 50-day moving average price of $16.90 and a 200-day moving average price of $20.14. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 13.70 and a beta of 0.96.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The business had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. During the same quarter in the prior year, the firm posted $0.23 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that Regal Entertainment Group will post $1.01 earnings per share for the current fiscal year.
Regal Entertainment Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 31st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.97%. Regal Entertainment Group’s dividend payout ratio is 82.24%.
Regal Entertainment Group Company Profile
Regal Entertainment Group is an operator of theatre circuits in the United States. As of March 31, 2017, the Company operated 7,262 screens in 559 theatres in 43 states along with Guam, Saipan, American Samoa and the District of Columbia. The Company manages its business under theatre exhibition operations segment.
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