Marcus Corp. (MCS) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC decreased its stake in shares of Marcus Corp. (NYSE:MCS) by 28.8% during the second quarter, Holdings Channel reports. The fund owned 29,266 shares of the company’s stock after selling 11,839 shares during the period. ClariVest Asset Management LLC’s holdings in Marcus Corp. were worth $618,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MCS. Savant Capital LLC raised its stake in shares of Marcus Corp. by 1.4% in the second quarter. Savant Capital LLC now owns 35,900 shares of the company’s stock valued at $757,000 after buying an additional 479 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Marcus Corp. during the second quarter valued at about $251,000. MSI Financial Services Inc raised its stake in shares of Marcus Corp. by 340.5% in the second quarter. MSI Financial Services Inc now owns 21,138 shares of the company’s stock valued at $446,000 after buying an additional 16,339 shares during the last quarter. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Marcus Corp. during the second quarter valued at about $1,394,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Marcus Corp. by 114.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,818 shares of the company’s stock valued at $123,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 55.93% of the company’s stock.
Shares of Marcus Corp. (NYSE:MCS) traded up 0.92% during midday trading on Friday, hitting $25.29. 41,476 shares of the stock were exchanged. The firm has a market cap of $696.97 million, a PE ratio of 16.44 and a beta of 0.66. Marcus Corp. has a 52-week low of $17.44 and a 52-week high of $25.63. The firm’s 50-day moving average is $24.24 and its 200 day moving average is $21.51.
Marcus Corp. (NYSE:MCS) last released its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The company earned $134 million during the quarter, compared to analyst estimates of $129.43 million. Marcus Corp. had a net margin of 6.55% and a return on equity of 9.45%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. On average, analysts forecast that Marcus Corp. will post $1.14 earnings per share for the current year.
Several brokerages have issued reports on MCS. Zacks Investment Research upgraded shares of Marcus Corp. from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Friday, October 7th. Benchmark Co. lifted their target price on shares of Marcus Corp. from $26.11 to $28.19 and gave the company a “buy” rating in a research report on Monday, September 26th. Finally, B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Marcus Corp. in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Marcus Corp. has a consensus rating of “Buy” and an average target price of $29.30.
In related news, Director Philip L. Milstein sold 4,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $24.29, for a total value of $97,160.00. Following the completion of the sale, the director now directly owns 80,213 shares of the company’s stock, valued at approximately $1,948,373.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas F. Kissinger sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $23.05, for a total transaction of $34,575.00. Following the completion of the sale, the vice president now directly owns 47,254 shares of the company’s stock, valued at $1,089,204.70. The disclosure for this sale can be found here. 33.75% of the stock is currently owned by corporate insiders.
About Marcus Corp.
The Marcus Corporation owns and operates movie theatres, and hotels and resorts. The Company operates through two business segments: movie theatres, and hotels and resorts. Its theatre operations include around 55 movie theatres with around 681 screens throughout Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, including two movie theatres with 11 screens in Wisconsin and Nebraska owned by third parties and managed by it.
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