Lord Abbett & CO. LLC Acquires 62,400 Shares of The Marcus Co. (NYSE:MCS)

Lord Abbett & CO. LLC increased its position in shares of The Marcus Co. (NYSE:MCS) by 7.5% during the third quarter, HoldingsChannel reports. The fund owned 892,314 shares of the company’s stock after buying an additional 62,400 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Marcus were worth $15,571,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its position in Marcus by 10.6% during the 2nd quarter. BlackRock Inc. now owns 4,059,463 shares of the company’s stock worth $86,103,000 after acquiring an additional 389,512 shares during the last quarter. Vanguard Group Inc. grew its position in Marcus by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,528,544 shares of the company’s stock worth $32,421,000 after acquiring an additional 133,966 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Marcus by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,230 shares of the company’s stock worth $29,274,000 after acquiring an additional 80,990 shares during the last quarter. Victory Capital Management Inc. grew its position in Marcus by 13.1% during the 3rd quarter. Victory Capital Management Inc. now owns 904,988 shares of the company’s stock worth $15,792,000 after acquiring an additional 104,916 shares during the last quarter. Finally, State Street Corp grew its position in Marcus by 5.6% during the 2nd quarter. State Street Corp now owns 783,086 shares of the company’s stock worth $16,609,000 after acquiring an additional 41,527 shares during the last quarter. Institutional investors and hedge funds own 73.11% of the company’s stock.

In other news, CEO Gregory S. Marcus sold 1,898 shares of the business’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $20.39, for a total value of $38,700.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory S. Marcus sold 28,018 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $20.53, for a total value of $575,209.54. The disclosure for this sale can be found here. 28.57% of the stock is owned by insiders.

Shares of MCS opened at $17.60 on Friday. The Marcus Co. has a 12 month low of $14.42 and a 12 month high of $24.71. The stock’s 50-day moving average price is $18.44 and its two-hundred day moving average price is $17.71. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.58.

Marcus (NYSE:MCS) last announced its quarterly earnings data on Wednesday, November 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.43. The company had revenue of $145.86 million for the quarter, compared to the consensus estimate of $125.99 million. Marcus had a negative return on equity of 18.80% and a negative net margin of 27.24%. During the same period in the previous year, the business earned ($1.22) EPS. As a group, research analysts anticipate that The Marcus Co. will post -1.91 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on MCS. Zacks Investment Research lowered Marcus from a “hold” rating to a “sell” rating in a research report on Thursday. B. Riley boosted their price objective on Marcus from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 11th. JPMorgan Chase & Co. started coverage on Marcus in a report on Wednesday, November 24th. They set a “neutral” rating and a $25.00 target price on the stock. TheStreet raised Marcus from a “d” rating to a “c-” rating in a report on Thursday, November 18th. Finally, Barrington Research lifted their target price on Marcus from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.50.

About Marcus

Marcus Corp. engages in operating movie theatres, hotels, and resorts. It operates through the following business segments: Theatres and Hotels & Resorts. The Theatres segment includes multiscreen motion picture theatres and a family entertainment center. The Hotels & Resorts segment owns and operates full service hotels and resorts.

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Institutional Ownership by Quarter for Marcus (NYSE:MCS)

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