Wedge Capital Management L L P NC held its position in shares of Marcus Corp. (NYSE:MCS) during the second quarter, Holdings Channel reports. The institutional investor owned 55,075 shares of the company’s stock at the end of the second quarter. Wedge Capital Management L L P NC’s holdings in Marcus Corp. were worth $1,162,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Savant Capital LLC raised its position in shares of Marcus Corp. by 1.4% in the second quarter. Savant Capital LLC now owns 35,900 shares of the company’s stock valued at $757,000 after buying an additional 479 shares during the period. Spark Investment Management LLC bought a new position in shares of Marcus Corp. during the first quarter valued at $341,000. BlackRock Fund Advisors raised its position in shares of Marcus Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 1,199,234 shares of the company’s stock valued at $22,725,000 after buying an additional 5,220 shares during the period. Bank of Montreal Can bought a new position in shares of Marcus Corp. during the second quarter valued at $251,000. Finally, MSI Financial Services Inc raised its position in shares of Marcus Corp. by 340.5% in the second quarter. MSI Financial Services Inc now owns 21,138 shares of the company’s stock valued at $446,000 after buying an additional 16,339 shares during the period. 55.91% of the stock is owned by institutional investors.
Marcus Corp. (NYSE:MCS) traded up 1.36% on Tuesday, hitting $25.33. 24,166 shares of the stock traded hands. The firm’s 50-day moving average price is $24.29 and its 200-day moving average price is $21.58. Marcus Corp. has a 12-month low of $17.44 and a 12-month high of $25.63. The stock has a market cap of $698.07 million, a price-to-earnings ratio of 16.47 and a beta of 0.65.
Marcus Corp. (NYSE:MCS) last announced its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Marcus Corp. had a net margin of 6.55% and a return on equity of 9.45%. The firm earned $134 million during the quarter, compared to the consensus estimate of $129.43 million. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Marcus Corp. will post $1.14 EPS for the current fiscal year.
Several research analysts have weighed in on MCS shares. Zacks Investment Research raised shares of Marcus Corp. from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, September 28th. Benchmark Co. increased their target price on shares of Marcus Corp. from $26.11 to $28.19 and gave the stock a “buy” rating in a research note on Monday, September 26th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of Marcus Corp. in a research note on Tuesday, August 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Marcus Corp. presently has a consensus rating of “Buy” and a consensus price target of $29.30.
In other news, CFO Douglas A. Neis sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $22.97, for a total transaction of $57,425.00. Following the completion of the transaction, the chief financial officer now owns 51,002 shares of the company’s stock, valued at approximately $1,171,515.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Philip L. Milstein sold 4,000 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $24.29, for a total transaction of $97,160.00. Following the transaction, the director now directly owns 80,213 shares of the company’s stock, valued at approximately $1,948,373.77. The disclosure for this sale can be found here. 33.75% of the stock is currently owned by corporate insiders.
About Marcus Corp.
The Marcus Corporation owns and operates movie theatres, and hotels and resorts. The Company operates through two business segments: movie theatres, and hotels and resorts. Its theatre operations include around 55 movie theatres with around 681 screens throughout Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, including two movie theatres with 11 screens in Wisconsin and Nebraska owned by third parties and managed by it.
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