Regal Entertainment Group (RGC) Hits New 52-Week High at $23.28
Regal Entertainment Group (NYSE:RGC) shares hit a new 52-week high on Wednesday . The stock traded as high as $23.28 and last traded at $23.15, with a volume of 207,426 shares trading hands. The stock had previously closed at $23.20.
RGC has been the subject of several recent analyst reports. Zacks Investment Research cut Regal Entertainment Group from a “hold” rating to a “strong sell” rating in a report on Thursday. Topeka Capital Markets lifted their price target on Regal Entertainment Group from $19.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, April 5th. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Regal Entertainment Group in a report on Friday, April 29th. Credit Suisse Group AG initiated coverage on Regal Entertainment Group in a report on Monday, June 13th. They issued a “neutral” rating and a $20.00 price target for the company. Finally, RBC Capital Markets cut Regal Entertainment Group from an “outperform” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.96.
The firm has a market cap of $3.63 billion and a P/E ratio of 21.35. The stock’s 50-day moving average price is $21.32 and its 200 day moving average price is $20.18.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. During the same period in the prior year, the company posted $0.15 earnings per share. The business earned $787.10 million during the quarter, compared to analysts’ expectations of $763.65 million. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts anticipate that Regal Entertainment Group will post $1.00 earnings per share for the current year.
In other news, COO Gregory W. Dunn sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $20.28, for a total transaction of $507,000.00. Following the completion of the sale, the chief operating officer now directly owns 104,916 shares of the company’s stock, valued at approximately $2,127,696.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter B. Brandow sold 49,024 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of $21.51, for a total value of $1,054,506.24. Following the sale, the executive vice president now directly owns 219,028 shares of the company’s stock, valued at $4,711,292.28. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the company. Foresters Investment Management Company Inc. increased its stake in Regal Entertainment Group by 0.6% in the fourth quarter. Foresters Investment Management Company Inc. now owns 650,400 shares of the company’s stock worth $12,273,000 after buying an additional 4,000 shares during the period. California State Teachers Retirement System increased its stake in Regal Entertainment Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 153,410 shares of the company’s stock worth $2,895,000 after buying an additional 2,443 shares during the period. Polaris Capital Management LLC increased its stake in Regal Entertainment Group by 28.4% in the fourth quarter. Polaris Capital Management LLC now owns 847,190 shares of the company’s stock worth $15,986,000 after buying an additional 187,292 shares during the period. BOKF NA bought a new position in shares of Regal Entertainment Group during the fourth quarter worth approximately $3,214,000. Finally, General American Investors Co. Inc. bought a new position in shares of Regal Entertainment Group during the fourth quarter worth approximately $4,623,000.
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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