Global X Management Co. LLC raised its position in Regal Entertainment Group (NYSE:RGC) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,586 shares of the company’s stock after buying an additional 19,695 shares during the period. Global X Management Co. LLC’s holdings in Regal Entertainment Group were worth $7,644,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in RGC. IFP Advisors Inc raised its stake in shares of Regal Entertainment Group by 164.3% in the second quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock worth $111,000 after buying an additional 3,369 shares in the last quarter. Parallel Advisors LLC raised its stake 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 in the last quarter. Farmers National Bank raised its stake 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 in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Regal Entertainment Group during the first quarter worth about $200,000. Finally, LaSalle Street Capital Management LLC purchased a new stake in shares of Regal Entertainment Group during the first quarter worth about $200,000. 77.16% of the stock is currently owned by institutional investors.
Shares of Regal Entertainment Group (NYSE RGC) opened at 17.50 on Friday. The company has a market capitalization of $2.75 billion, a P/E ratio of 16.23 and a beta of 0.92. Regal Entertainment Group has a 1-year low of $17.36 and a 1-year high of $24.79. The company has a 50-day moving average price of $19.45 and a 200 day moving average price of $21.12.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.38%. The firm had revenue of $764.20 million for the quarter, compared to the consensus estimate of $764.15 million. During the same period last year, the company posted $0.23 earnings per share. Regal Entertainment Group’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts anticipate that Regal Entertainment Group will post $1.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.03%. The ex-dividend date is Thursday, August 31st. Regal Entertainment Group’s dividend payout ratio (DPR) is 82.24%.
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RGC has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, July 6th. Moffett Nathanson lowered Regal Entertainment Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $21.00 to $17.00 in a research report on Monday, June 12th. Credit Suisse Group dropped their target price on 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. Royal Bank Of Canada dropped their target price on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 22nd. Finally, Loop Capital upgraded Regal Entertainment Group from a “hold” rating to a “buy” rating and raised their price target for the company from $23.00 to $25.00 in a research note on Tuesday, May 16th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regal Entertainment Group currently has a consensus rating of “Hold” and a consensus target price 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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