Virtu KCG Holdings LLC reduced its holdings in Regal Entertainment Group (NYSE:RGC) by 37.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,463 shares of the company’s stock after selling 10,011 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Regal Entertainment Group were worth $337,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of RGC. IFP Advisors Inc lifted its position 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. lifted its position 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. Ffcm LLC lifted its position in shares of Regal Entertainment Group by 123.4% in the 2nd quarter. Ffcm LLC now owns 8,109 shares of the company’s stock worth $165,000 after buying an additional 4,480 shares during the last quarter. Farmers National Bank lifted its position in shares of Regal Entertainment Group by 6.6% in the 1st 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Regal Entertainment Group by 18.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,150 shares of the company’s stock worth $187,000 after buying an additional 1,448 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Regal Entertainment Group (NYSE:RGC) opened at 16.03 on Wednesday. The firm has a market cap of $2.51 billion, a PE ratio of 14.88 and a beta of 0.97. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79. The firm’s 50-day moving average is $15.92 and its 200 day moving average is $19.07.

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). The company 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 firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, equities analysts forecast that Regal Entertainment Group will post $0.97 earnings per share for the current fiscal year.

Regal Entertainment Group declared that its Board of Directors has initiated a stock buyback program on Thursday, August 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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In related news, CFO David Ownby purchased 7,500 shares of Regal Entertainment Group stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at $3,223,204.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen A. Kaplan purchased 10,000 shares of Regal Entertainment Group stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the director now owns 155,572 shares in the company, valued at $2,313,355.64. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 242,500 shares of company stock worth $641,000. 2.00% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on RGC shares. Credit Suisse Group reduced their price target on shares of 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. MKM Partners raised shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Piper Jaffray Companies set a $19.00 price objective on shares of Regal Entertainment Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Morgan Stanley raised shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective on the stock in a report on Thursday, October 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Regal Entertainment Group in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.38.

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.

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

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