Regal Entertainment Group (RGC) Shares Bought by Chartwell Investment Partners LLC
Chartwell Investment Partners LLC lifted its position in Regal Entertainment Group (NYSE:RGC) by 20.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,769 shares of the company’s stock after purchasing an additional 61,684 shares during the quarter. Chartwell Investment Partners LLC owned 0.23% of Regal Entertainment Group worth $5,900,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Regal Entertainment Group by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after acquiring an additional 373 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Regal Entertainment Group by 164.3% in the 2nd quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after buying an additional 3,369 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Regal Entertainment Group by 169.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock worth $113,000 after buying an additional 3,471 shares during the last quarter. Farmers National Bank boosted its stake in shares of Regal Entertainment Group by 901.2% in the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after buying an additional 72,996 shares during the last quarter. Finally, Spectrum Management Group Inc. purchased a new position in shares of Regal Entertainment Group in the 3rd quarter worth $141,000. Hedge funds and other institutional investors own 81.65% of the company’s stock.
A number of research firms have commented on RGC. B. Riley reissued a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a report on Tuesday, August 1st. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Credit Suisse Group decreased their price target on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating on the stock in a report on Thursday, September 28th. Benchmark Co. decreased their price target on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Finally, Wedbush reissued a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Regal Entertainment Group has an average rating of “Hold” and a consensus target price of $20.90.
In related news, Director Thomas D. Bell, Jr. purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought 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 owns 126,939 shares in the company, valued at approximately $1,873,619.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Kaplan purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average price of $14.87 per share, with a total value of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at approximately $2,313,355.64. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
Shares of Regal Entertainment Group (RGC) traded up $0.07 during mid-day trading on Thursday, hitting $16.60. The stock had a trading volume of 4,916,000 shares, compared to its average volume of 2,587,663. The company has a market capitalization of $2,595.46, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. Regal Entertainment Group has a 1 year low of $13.90 and a 1 year high of $23.89. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of -2.84.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. research analysts forecast that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a $0.22 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.88 annualized dividend and a yield of 5.30%. Regal Entertainment Group’s dividend payout ratio is currently 101.15%.
Regal Entertainment Group declared that its board has approved a stock buyback program on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Regal Entertainment Group 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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