NGAM Advisors L.P. Sells 1,565 Shares of Regal Entertainment Group (RGC)
NGAM Advisors L.P. cut its position in shares of Regal Entertainment Group (NYSE:RGC) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 67,189 shares of the company’s stock after selling 1,565 shares during the period. NGAM Advisors L.P.’s holdings in Regal Entertainment Group were worth $1,375,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Regal Entertainment Group by 2.1% in the first quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock worth $153,000 after buying an additional 145 shares during the period. Farmers National Bank increased its position in shares of Regal Entertainment Group by 6.6% in the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock worth $176,000 after buying an additional 500 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Regal Entertainment Group during the first quarter worth $200,000. LaSalle Street Capital Management LLC acquired a new position in shares of Regal Entertainment Group during the first quarter worth $200,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Regal Entertainment Group during the first quarter worth $201,000. 77.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regal Entertainment Group (RGC) opened at 16.74 on Wednesday. Regal Entertainment Group has a 52 week low of $16.67 and a 52 week high of $24.79. The company has a 50 day moving average price of $19.16 and a 200 day moving average price of $20.97. The company has a market capitalization of $2.62 billion, a PE ratio of 15.54 and a beta of 0.92.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The company had revenue of $764.20 million for the quarter, compared to analysts’ expectations of $764.15 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Regal Entertainment Group will post $1.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 5.26%. Regal Entertainment Group’s payout ratio is currently 82.24%.
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RGC has been the topic of a number of recent analyst reports. Hilliard Lyons raised Regal Entertainment Group to a “buy” rating in a research report on Thursday, May 18th. They noted that the move was a valuation call. Loop Capital raised Regal Entertainment Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $25.00 in a research report on Tuesday, May 16th. B. Riley raised Regal Entertainment Group to a “buy” rating and set a $28.75 price target on the stock in a research report on Saturday, April 29th. Wedbush reissued a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a research report on Thursday, April 27th. Finally, Zacks Investment Research raised Regal Entertainment Group from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Thursday, April 20th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.57.
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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