Payden & Rygel decreased its position in Regal Entertainment Group (NYSE:RGC) by 69.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,000 shares of the company’s stock after selling 433,300 shares during the period. Payden & Rygel owned approximately 0.12% of Regal Entertainment Group worth $3,040,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Regal Entertainment Group by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after acquiring an additional 373 shares during the period. IFP Advisors Inc lifted its stake in shares of Regal Entertainment Group by 164.3% in the 2nd quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after purchasing an additional 3,369 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Regal Entertainment Group by 169.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock worth $113,000 after purchasing an additional 3,471 shares during the period. Farmers National Bank lifted its stake in shares of Regal Entertainment Group by 901.2% in the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after purchasing an additional 72,996 shares during the period. Finally, Spectrum Management Group Inc. purchased a new stake in Regal Entertainment Group in the 3rd quarter worth approximately $141,000. Institutional investors own 85.31% of the company’s stock.
A number of equities research analysts have issued reports on RGC shares. Zacks Investment Research raised shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. B. Riley reiterated a “buy” rating and set a $24.75 target price (up from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. MKM Partners upgraded Regal Entertainment Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Wedbush set a $20.00 target price on Regal Entertainment Group and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Loop Capital lowered their price target on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.83.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million during 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%. Regal Entertainment Group’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. analysts expect that Regal Entertainment Group will post 0.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, December 4th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Friday, December 1st. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 101.15%.
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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