Quadrature Capital Ltd Buys New Position in Regal Entertainment Group (RGC)
Quadrature Capital Ltd bought a new stake in Regal Entertainment Group (NYSE:RGC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,691 shares of the company’s stock, valued at approximately $298,000.
Other hedge funds have also made changes to their positions in the company. Societe Generale purchased a new position in Regal Entertainment Group during the second quarter valued at about $103,000. Advisor Group Inc. purchased a new position in Regal Entertainment Group during the second quarter valued at about $103,000. BlueMountain Capital Management LLC purchased a new position in Regal Entertainment Group during the second quarter valued at about $125,000. Pacer Advisors Inc. purchased a new position in Regal Entertainment Group during the second quarter valued at about $140,000. Finally, Quantbot Technologies LP purchased a new position in Regal Entertainment Group during the third quarter valued at about $166,000. Institutional investors own 65.45% of the company’s stock.
Regal Entertainment Group (NYSE:RGC) traded up 0.37% during midday trading on Friday, hitting $21.73. The stock had a trading volume of 730,983 shares. The company’s 50 day moving average price is $21.62 and its 200-day moving average price is $22.08. Regal Entertainment Group has a 52 week low of $16.50 and a 52 week high of $24.79. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 19.90 and a beta of 0.90.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Thursday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Regal Entertainment Group had a negative return on equity of 20.69% and a net margin of 5.31%. The business earned $811.50 million during the quarter, compared to analysts’ expectations of $787.99 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Regal Entertainment Group will post $1.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Monday, December 5th were issued a $0.22 dividend. The ex-dividend date was Thursday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 4.05%. Regal Entertainment Group’s payout ratio is presently 80.73%.
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RGC has been the topic of several recent research reports. B. Riley reiterated a “neutral” rating and issued a $23.00 price target on shares of Regal Entertainment Group in a report on Monday, October 24th. Zacks Investment Research cut Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Loop Capital restated a “hold” rating and set a $22.00 target price on shares of Regal Entertainment Group in a report on Monday, September 26th. Wedbush restated an “outperform” rating and set a $25.00 target price on shares of Regal Entertainment Group in a report on Monday, October 24th. Finally, Goldman Sachs Group, Inc. (The) upgraded Regal Entertainment Group from a “neutral” rating to a “conviction-buy” rating and set a $47.00 target price on the stock in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regal Entertainment Group presently has a consensus rating of “Hold” and a consensus price target of $24.66.
In other Regal Entertainment Group news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $22.95, for a total value of $298,350,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.
About Regal Entertainment Group
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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