First Quadrant L P CA Has $244,000 Position in Regal Entertainment Group (RGC)
First Quadrant L P CA trimmed its position in Regal Entertainment Group (NYSE:RGC) by 97.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,261 shares of the company’s stock after selling 591,681 shares during the period. First Quadrant L P CA’s holdings in Regal Entertainment Group were worth $244,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Martingale Asset Management L P raised its position in shares of Regal Entertainment Group by 19.0% in the 2nd quarter. Martingale Asset Management L P now owns 498,694 shares of the company’s stock valued at $10,205,000 after acquiring an additional 79,693 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Regal Entertainment Group in the 1st quarter valued at approximately $1,856,000. Legal & General Group Plc raised its holdings in Regal Entertainment Group by 41.8% during the 1st quarter. Legal & General Group Plc now owns 96,387 shares of the company’s stock worth $2,177,000 after buying an additional 28,399 shares during the period. Royal Bank of Canada raised its holdings in Regal Entertainment Group by 17.2% during the 2nd quarter. Royal Bank of Canada now owns 724,860 shares of the company’s stock worth $14,831,000 after buying an additional 106,214 shares during the period. Finally, Dynamic Advisors Solutions LLC raised its holdings in Regal Entertainment Group by 4.5% during the 2nd quarter. Dynamic Advisors Solutions LLC now owns 183,991 shares of the company’s stock worth $3,764,000 after buying an additional 7,926 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.
Several analysts have commented on the stock. Wedbush restated a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. B. Riley restated a “buy” rating and set a $26.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. Piper Jaffray Companies set a $19.00 target price on shares of Regal Entertainment Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Regal Entertainment Group currently has a consensus rating of “Hold” and an average target price of $20.90.
In other news, Director Stephen A. Kaplan bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the completion of the purchase, the director now owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Ownby bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average cost of $14.04 per share, with a total value of $105,300.00. Following the completion of the purchase, the chief financial officer now directly 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. Insiders purchased 242,500 shares of company stock valued at $641,000 over the last three months. 2.00% of the stock is owned by company insiders.
Regal Entertainment Group (RGC) opened at $15.65 on Tuesday. The firm has a market cap of $2,434.00, a P/E ratio of 17.61, a PEG ratio of 1.67 and a beta of 1.05. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.83 and a current ratio of 0.89.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.46%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. equities research analysts predict that Regal Entertainment Group will post 0.93 earnings per share for the current fiscal year.
Regal Entertainment Group declared that its board has authorized a stock repurchase plan on Thursday, August 31st that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 1st. This represents a $0.88 annualized dividend and a dividend yield of 5.62%. Regal Entertainment Group’s dividend payout ratio is currently 101.15%.
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About Regal Entertainment Group
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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