Columbia Partners L L C Investment Management Has $3.21 Million Stake in Regal Entertainment Group (RGC)
Columbia Partners L L C Investment Management reduced its stake in Regal Entertainment Group (NYSE:RGC) by 14.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,887 shares of the company’s stock after selling 34,337 shares during the period. Columbia Partners L L C Investment Management owned approximately 0.13% of Regal Entertainment Group worth $3,214,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Regal Entertainment Group by 3.0% in the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock worth $270,273,000 after acquiring an additional 380,951 shares during the period. Alliancebernstein L.P. boosted its stake in Regal Entertainment Group by 11.6% during the second quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after buying an additional 1,048,051 shares during the period. Epoch Investment Partners Inc. boosted its stake in Regal Entertainment Group by 1.4% during the second quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after buying an additional 103,100 shares during the period. BlackRock Inc. boosted its stake in Regal Entertainment Group by 20.7% during the second quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock valued at $95,330,000 after buying an additional 797,847 shares during the period. Finally, Hamlin Capital Management LLC boosted its stake in Regal Entertainment Group by 1.4% during the third quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock valued at $69,368,000 after buying an additional 60,489 shares during the period. 80.54% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on RGC shares. MKM Partners raised Regal Entertainment Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $22.00 in a research note on Tuesday, September 5th. They noted that the move was a valuation call. B. Riley reissued a “buy” rating and set a $24.75 price objective (up previously from $24.00) on shares of Regal Entertainment Group in a research note on Wednesday, October 25th. Wedbush set a $20.00 price objective on Regal Entertainment Group and gave the company a “buy” rating in a research note on Wednesday, October 25th. Loop Capital dropped their price objective on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. Finally, Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective for the company in a research note on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Regal Entertainment Group currently has an average rating of “Hold” and a consensus target price of $20.90.
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In related news, Director Stephen A. Kaplan acquired 10,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were purchased at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the completion of the acquisition, the director now owns 155,572 shares in the company, valued at $2,313,355.64. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Ownby acquired 7,500 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $14.04 per share, for a total transaction of $105,300.00. Following 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. In the last quarter, insiders bought 242,500 shares of company stock worth $641,000. Company insiders own 2.00% of the company’s stock.
Regal Entertainment Group (NYSE RGC) traded down $0.27 on Friday, hitting $15.64. The stock had a trading volume of 3,255,400 shares, compared to its average volume of 2,529,391. The stock has a market capitalization of $2,520.00, a P/E ratio of 18.08, a P/E/G ratio of 1.69 and a beta of 1.05. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. 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 released its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. analysts expect that Regal Entertainment Group will post 0.94 earnings per share for the current year.
Regal Entertainment Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 31st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.88 annualized dividend and a dividend yield of 5.63%. Regal Entertainment Group’s dividend payout ratio is currently 106.02%.
Regal Entertainment Group Company 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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