Tiaa Fsb Purchases Shares of 10,151 Regal Entertainment Group (RGC)
Tiaa Fsb purchased a new position in Regal Entertainment Group (NYSE:RGC) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,151 shares of the company’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds also recently bought and sold shares of RGC. Bank of New York Mellon Corp raised its position 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 worth $18,673,000 after purchasing an additional 49,896 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Regal Entertainment Group by 417.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 43,803 shares of the company’s stock worth $989,000 after buying an additional 35,344 shares during the last quarter. Karp Capital Management Corp purchased a new position in Regal Entertainment Group in the 1st quarter worth about $1,311,000. Parametric Portfolio Associates LLC raised its position in Regal Entertainment Group by 2.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 428,987 shares of the company’s stock worth $9,687,000 after buying an additional 11,015 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Regal Entertainment Group by 4.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,099 shares of the company’s stock worth $1,785,000 after buying an additional 3,543 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
In other Regal Entertainment Group news, Director Thomas D. Bell, Jr. acquired 25,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $14.76 per share, with a total value of $369,000.00. Following the completion of the acquisition, the director now owns 126,939 shares in the company, valued at $1,873,619.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Ownby acquired 7,500 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was acquired at an average cost 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 disclosure for this purchase can be found here. Over the last three months, insiders acquired 242,500 shares of company stock worth $641,000. 2.00% of the stock is owned by corporate insiders.
A number of equities analysts have 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 research report on Thursday, July 27th. BidaskClub lowered Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. MKM Partners reissued a “buy” rating and issued a $20.00 target price on shares of Regal Entertainment Group in a research report on Monday, September 18th. Royal Bank Of Canada decreased their target price on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 22nd. Finally, Wedbush reissued a “buy” rating on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Five analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Regal Entertainment Group has an average rating of “Hold” and an average price target of $24.29.
Regal Entertainment Group (NYSE RGC) opened at 16.61 on Monday. The firm has a 50-day moving average price of $16.15 and a 200 day moving average price of $19.83. The company has a market capitalization of $2.60 billion, a P/E ratio of 15.42 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 quarterly earnings data on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the 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 business had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same period in the previous year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts predict that Regal Entertainment Group will post $1.00 EPS for the current year.
Regal Entertainment Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 31st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend was Thursday, August 31st. Regal Entertainment Group’s payout ratio is currently 82.24%.
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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.
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