Regal Entertainment Group (RGC) Stake Held by Anschutz Foundation The
Anschutz Foundation The
disclosed that they own a 8.7% stake in Regal Entertainment Group (NYSE:RGC) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Thursday, December 14th. The investor owns 11,560,010 shares of the stock valued at about $263,452,628. The filing is available through Edgar at this link.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Regal Entertainment Group by 3.0% during the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after buying an additional 380,951 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Regal Entertainment Group by 11.6% in the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock valued at $206,503,000 after purchasing an additional 1,048,051 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Regal Entertainment Group by 1.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 7,261,026 shares of the company’s stock valued at $148,561,000 after purchasing an additional 103,100 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Regal Entertainment Group by 20.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 5,966,512 shares of the company’s stock valued at $95,464,000 after purchasing an additional 1,032,378 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Regal Entertainment Group by 18.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 5,557,432 shares of the company’s stock valued at $89,919,000 after purchasing an additional 857,787 shares during the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
RGC has been the subject of several analyst reports. Zacks Investment Research raised Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. B. Riley set a $24.00 price objective on Regal Entertainment Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. Benchmark raised their price objective on Regal Entertainment Group from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Hilliard Lyons lowered Regal Entertainment Group from a “long-term buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. Finally, Loop Capital lowered 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Regal Entertainment Group presently has a consensus rating of “Hold” and an average price target of $21.83.
Shares of Regal Entertainment Group (NYSE:RGC) traded up $0.12 during mid-day trading on Thursday, hitting $22.79. The company had a trading volume of 4,583,900 shares, compared to its average volume of 3,326,413. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $23.56. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78. The company has a market cap of $3,559.53, a price-to-earnings ratio of 25.76, a P/E/G ratio of 2.42 and a beta of 1.14.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. During the same period last year, the company earned $0.29 EPS. Regal Entertainment Group’s quarterly revenue was down 11.8% compared to the same quarter last year. equities research analysts anticipate that Regal Entertainment Group will post 0.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group’s dividend payout ratio is currently 101.15%.
Regal Entertainment Group declared that its board has approved a stock repurchase program on Thursday, August 31st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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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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