Pacer Advisors Inc. raised its holdings in shares of Regal Entertainment Group (NYSE:RGC) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,499 shares of the company’s stock after acquiring an additional 1,127 shares during the quarter. Pacer Advisors Inc.’s holdings in Regal Entertainment Group were worth $215,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in RGC. Wells Fargo & Company MN boosted its position in shares of Regal Entertainment Group by 6.5% during the 1st quarter. Wells Fargo & Company MN now owns 810,427 shares of the company’s stock worth $18,301,000 after acquiring an additional 49,653 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Regal Entertainment Group by 2.9% in the 1st quarter. First Trust Advisors LP now owns 338,548 shares of the company’s stock valued at $7,644,000 after purchasing an additional 9,492 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Regal Entertainment Group by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock valued at $18,673,000 after purchasing an additional 49,896 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Regal Entertainment Group by 417.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 43,803 shares of the company’s stock valued at $989,000 after purchasing an additional 35,344 shares during the last quarter. Finally, Meadow Creek Investment Management LLC purchased a new stake in shares of Regal Entertainment Group in the 1st quarter valued at about $382,000. 82.41% of the stock is owned by institutional investors and hedge funds.
In related news, Director Stephen A. Kaplan bought 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the purchase, the director now directly owns 155,572 shares in the company, valued at approximately $2,313,355.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Ownby bought 7,500 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was bought at an average price of $14.04 per share, with a total value of $105,300.00. Following the completion of the purchase, the chief financial officer now owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 242,500 shares of company stock valued at $641,000. 2.00% of the stock is currently owned by insiders.
Shares of Regal Entertainment Group (RGC) opened at 16.03 on Friday. The firm’s 50-day moving average price is $16.32 and its 200 day moving average price is $19.93. The stock has a market capitalization of $2.51 billion, a P/E ratio of 14.88 and a beta of 0.96. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Regal Entertainment Group will post $1.01 EPS for the current fiscal year.
Regal Entertainment Group declared that its Board of Directors has approved a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 5.49%. Regal Entertainment Group’s payout ratio is currently 82.24%.
Several analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $26.00 target price on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $22.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. BidaskClub downgraded Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Piper Jaffray Companies set a $19.00 target price on Regal Entertainment Group and gave the company a “hold” rating in a report on Thursday, July 27th. Finally, Wedbush reissued a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Regal Entertainment Group has a consensus rating of “Hold” and a consensus price target of $24.43.
ILLEGAL ACTIVITY NOTICE: “Pacer Advisors Inc. Has $215,000 Stake in Regal Entertainment Group (RGC)” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://sportsperspectives.com/2017/09/16/pacer-advisors-inc-has-215000-stake-in-regal-entertainment-group-rgc.html.
Regal Entertainment Group 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.
Want to see what other hedge funds are holding RGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Entertainment Group (NYSE:RGC).
Receive News & Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.