First Trust Advisors LP Has $205,000 Position in Marcus Corp. (MCS)
First Trust Advisors LP cut its stake in shares of Marcus Corp. (NYSE:MCS) by 89.9% during the second quarter, Holdings Channel reports. The fund owned 9,696 shares of the company’s stock after selling 86,186 shares during the period. First Trust Advisors LP’s holdings in Marcus Corp. were worth $205,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCS. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Marcus Corp. during the second quarter valued at $897,000. California State Teachers Retirement System increased its position in shares of Marcus Corp. by 0.4% in the second quarter. California State Teachers Retirement System now owns 39,016 shares of the company’s stock valued at $823,000 after buying an additional 162 shares during the last quarter. Savant Capital LLC increased its position 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 purchased a new position in shares of Marcus Corp. during the second quarter valued at $251,000. Finally, MSI Financial Services Inc increased its position 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. 55.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Marcus Corp. (NYSE:MCS) traded up 1.28% during mid-day trading on Tuesday, hitting $25.31. The stock had a trading volume of 3,614 shares. The company has a 50-day moving average of $24.29 and a 200 day moving average of $21.58. Marcus Corp. has a one year low of $17.44 and a one year high of $25.63. The firm has a market cap of $697.52 million, a price-to-earnings ratio of 16.46 and a beta of 0.65.
Marcus Corp. (NYSE:MCS) last announced its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. Marcus Corp. had a return on equity of 9.45% and a net margin of 6.55%. The business earned $134 million during the quarter, compared to analysts’ expectations of $129.43 million. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that Marcus Corp. will post $1.14 earnings per share for the current year.
Several brokerages recently weighed in on MCS. Zacks Investment Research raised 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 note on Friday, October 7th. Benchmark Co. lifted their price target on Marcus Corp. from $26.11 to $28.19 and gave the company a “buy” rating in a report on Monday, September 26th. Finally, B. Riley restated a “buy” rating and issued a $30.00 price target on shares of Marcus Corp. in a report on Tuesday, August 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $29.30.
In other news, CFO Douglas A. Neis sold 2,500 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $22.97, for a total transaction of $57,425.00. Following the completion of the sale, the chief financial officer now directly owns 51,002 shares of the company’s stock, valued at $1,171,515.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Philip L. Milstein sold 4,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 80,213 shares of the company’s stock, valued at $1,948,373.77. The disclosure for this sale can be found here. Corporate insiders own 33.75% of the company’s stock.
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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