Panagora Asset Management Inc. Has $2.03 Million Holdings in Marcus Corporation (The) $MCS

Panagora Asset Management Inc. grew its stake in Marcus Corporation (The) (NYSE:MCS) by 41.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,130 shares of the company’s stock after acquiring an additional 35,089 shares during the period. Panagora Asset Management Inc. owned 0.38% of Marcus worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in shares of Marcus by 94.5% in the second quarter. Acadian Asset Management LLC now owns 223,886 shares of the company’s stock valued at $3,772,000 after purchasing an additional 108,771 shares in the last quarter. American Century Companies Inc. lifted its holdings in Marcus by 14.7% during the 1st quarter. American Century Companies Inc. now owns 844,953 shares of the company’s stock worth $14,102,000 after buying an additional 108,334 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Marcus in the 1st quarter valued at $1,759,000. Nuveen LLC acquired a new stake in shares of Marcus in the 1st quarter valued at $1,636,000. Finally, Orbis Allan Gray Ltd increased its stake in shares of Marcus by 5.4% in the 1st quarter. Orbis Allan Gray Ltd now owns 1,260,565 shares of the company’s stock valued at $21,039,000 after buying an additional 64,482 shares during the period. 81.57% of the stock is currently owned by institutional investors and hedge funds.

Marcus Trading Up 0.8%

NYSE:MCS opened at $15.56 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.38. Marcus Corporation has a 1-year low of $12.85 and a 1-year high of $22.73. The firm has a market capitalization of $477.94 million, a price-to-earnings ratio of 64.85, a PEG ratio of 3.55 and a beta of 0.57. The business’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $15.86.

Marcus (NYSE:MCS) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $210.15 million during the quarter, compared to the consensus estimate of $214.14 million. Marcus had a net margin of 1.02% and a return on equity of 1.71%. On average, equities analysts expect that Marcus Corporation will post 0.36 earnings per share for the current year.

Marcus declared that its Board of Directors has initiated a stock repurchase plan on Friday, October 31st that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Marcus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Tuesday, November 25th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $0.32 annualized dividend and a yield of 2.1%. Marcus’s dividend payout ratio (DPR) is 133.33%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MCS. Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of Marcus in a report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Marcus in a research report on Monday. Benchmark lowered their price target on shares of Marcus from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Zacks Research raised shares of Marcus from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Marcus currently has an average rating of “Moderate Buy” and a consensus price target of $23.75.

About Marcus

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. It operates a family entertainment center and multiscreen motion picture theatres under the Big Screen Bistro, Big Screen Bistro Express, BistroPlex, and Movie Tavern by Marcus brand names.