Insider Buying: Regal Entertainment Group (RGC) Director Purchases 25,000 Shares of Stock
Regal Entertainment Group (NYSE:RGC) Director Thomas D. Bell, Jr. purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the completion of the transaction, the director now directly owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Regal Entertainment Group (NYSE:RGC) traded down 2.65% on Tuesday, hitting $14.67. The stock had a trading volume of 4,097,829 shares. The company has a 50-day moving average price of $18.05 and a 200 day moving average price of $20.56. The firm has a market cap of $2.29 billion, a PE ratio of 13.62 and a beta of 0.92. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79.
Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts forecast 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 will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.00%. Regal Entertainment Group’s payout ratio is currently 82.24%.
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A number of institutional investors have recently added to or reduced their stakes in RGC. Bank of New York Mellon Corp increased its position in Regal Entertainment Group by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock valued at $18,673,000 after buying an additional 49,896 shares in the last quarter. Elkfork Partners LLC bought a new position in Regal Entertainment Group during the first quarter valued at about $300,000. First Trust Advisors LP increased its position in Regal Entertainment Group by 2.9% in the first quarter. First Trust Advisors LP now owns 338,548 shares of the company’s stock valued at $7,644,000 after buying an additional 9,492 shares in the last quarter. Capital One National Association increased its position in Regal Entertainment Group by 1.7% in the first quarter. Capital One National Association now owns 33,788 shares of the company’s stock valued at $763,000 after buying an additional 555 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in Regal Entertainment Group by 5.0% in the first quarter. Chicago Equity Partners LLC now owns 38,860 shares of the company’s stock valued at $877,000 after buying an additional 1,850 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.
Several equities research analysts recently weighed in on RGC shares. Morgan Stanley dropped their price target on Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. Moffett Nathanson lowered Regal Entertainment Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $21.00 to $17.00 in a research report on Monday, June 12th. Credit Suisse Group dropped their price target on Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating on the stock in a research report on Friday, June 23rd. Royal Bank Of Canada dropped their price target on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Regal Entertainment Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Five research analysts have rated the stock with a sell rating, three have issued 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 currently has an average rating of “Hold” and a consensus target price of $24.57.
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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