Regal Entertainment Group (RGC) Stake Lifted by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in shares of Regal Entertainment Group (NYSE:RGC) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,898 shares of the company’s stock after purchasing an additional 104,663 shares during the period. Mackenzie Financial Corp owned approximately 0.69% of Regal Entertainment Group worth $17,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RGC. The Manufacturers Life Insurance Company lifted its holdings in shares of Regal Entertainment Group by 8.3% during 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 during the last quarter. MML Investors Services LLC lifted its holdings in shares of Regal Entertainment Group by 3.4% during the 2nd quarter. MML Investors Services LLC now owns 11,529 shares of the company’s stock worth $236,000 after acquiring an additional 381 shares during the last quarter. Commerce Bank lifted its holdings in shares of Regal Entertainment Group by 4.7% during the 2nd quarter. Commerce Bank now owns 13,265 shares of the company’s stock worth $271,000 after acquiring an additional 600 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of Regal Entertainment Group by 9.4% during the 2nd quarter. National Asset Management Inc. now owns 9,939 shares of the company’s stock worth $204,000 after acquiring an additional 852 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Regal Entertainment Group by 4.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 24,666 shares of the company’s stock worth $505,000 after acquiring an additional 983 shares during the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.

Regal Entertainment Group (NYSE RGC) traded down $0.10 during trading on Thursday, reaching $22.58. 16,140,800 shares of the company’s stock traded hands, compared to its average volume of 3,256,752. The company has a debt-to-equity ratio of -2.84, a current ratio of 0.84 and a quick ratio of 0.78. The company has a market capitalization of $3,561.10, a P/E ratio of 25.77, a PEG ratio of 2.38 and a beta of 1.14. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $23.56.

Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $701.66 million. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. analysts predict that Regal Entertainment Group will post 0.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Friday, December 1st. Regal Entertainment Group’s dividend payout ratio is presently 101.15%.

Regal Entertainment Group announced that its board has authorized a stock repurchase program on Thursday, August 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of research firms have recently issued reports on RGC. B. Riley reaffirmed a “buy” rating and set a $24.75 price objective on shares of Regal Entertainment Group in a report on Tuesday. Loop Capital downgraded shares of Regal Entertainment Group from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a report on Wednesday. Macquarie downgraded shares of Regal Entertainment Group from an “outperform” rating to a “neutral” rating in a report on Wednesday. Royal Bank Of Canada downgraded shares of Regal Entertainment Group from an “outperform” rating to a “sector perform” rating in a report on Wednesday. Finally, Moffett Nathanson raised shares of Regal Entertainment Group from a “sell” rating to a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.73.

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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.

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

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