PineView Asset Management LP reduced its position in shares of Regal Entertainment Group (NYSE:RGC) by 29.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 229,439 shares of the company’s stock after selling 94,189 shares during the quarter. Regal Entertainment Group accounts for about 1.3% of PineView Asset Management LP’s investment portfolio, making the stock its 12th biggest holding. PineView Asset Management LP owned 0.15% of Regal Entertainment Group worth $4,694,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Regal Entertainment Group by 2.1% during the 1st quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock valued at $153,000 after purchasing an additional 145 shares in the last quarter. Camelot Portfolios LLC increased its stake in Regal Entertainment Group by 1.0% during the 2nd quarter. Camelot Portfolios LLC now owns 20,941 shares of the company’s stock valued at $428,000 after purchasing an additional 205 shares in the last quarter. MML Investors Services LLC increased its stake in Regal Entertainment Group by 3.4% during the 2nd quarter. MML Investors Services LLC now owns 11,529 shares of the company’s stock valued at $236,000 after purchasing an additional 381 shares in the last quarter. Farmers National Bank increased its stake in Regal Entertainment Group by 6.6% during the 1st quarter. Farmers National Bank now owns 8,100 shares of the company’s stock valued at $176,000 after purchasing an additional 500 shares in the last quarter. Finally, Lee Financial Co increased its stake in Regal Entertainment Group by 1.0% during the 2nd quarter. Lee Financial Co now owns 58,328 shares of the company’s stock valued at $1,193,000 after purchasing an additional 591 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “PineView Asset Management LP Has $4.69 Million Holdings in Regal Entertainment Group (RGC)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.watchlistnews.com/pineview-asset-management-lp-has-4-69-million-holdings-in-regal-entertainment-group-rgc/1618009.html.

RGC has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, July 6th. Moffett Nathanson lowered shares of Regal Entertainment Group from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $21.00 to $17.00 in a research note on Monday, June 12th. Credit Suisse Group reduced their price objective on shares of Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating for the company in a research note on Friday, June 23rd. Royal Bank Of Canada reduced their price objective on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, June 22nd. Finally, MKM Partners restated a “buy” rating and set a $20.00 price objective on shares of Regal Entertainment Group in a research note on Monday, September 18th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.38.

Shares of Regal Entertainment Group (NYSE RGC) traded down 1.70% during mid-day trading on Friday, reaching $16.78. 2,748,945 shares of the company traded hands. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79. The firm has a 50-day moving average price of $15.66 and a 200 day moving average price of $19.33. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 15.58 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share 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 business had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same quarter last year, the company posted $0.23 EPS. Regal Entertainment Group’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Regal Entertainment Group will post $0.98 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.88 annualized dividend and a yield of 5.24%. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 82.24%.

Regal Entertainment Group announced that its Board of Directors has approved a share repurchase program on Thursday, August 31st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other Regal Entertainment Group news, CFO David Ownby purchased 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the acquisition, the chief financial officer now owns 229,573 shares in the company, valued at $3,223,204.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the acquisition, the director now owns 126,939 shares in the company, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 242,500 shares of company stock worth $641,000. 2.00% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Regal Entertainment Group (NYSE:RGC)

Receive News & Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related companies with Analyst Ratings Network's FREE daily email newsletter.