Regal Entertainment Group (RGC) Short Interest Update

Regal Entertainment Group (NYSE:RGC) was the target of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 14,592,646 shares, a drop of 33.4% from the December 15th total of 21,919,512 shares. Based on an average daily trading volume, of 4,742,923 shares, the days-to-cover ratio is presently 3.1 days. Currently, 11.2% of the shares of the stock are short sold.

Regal Entertainment Group (NYSE:RGC) opened at $23.00 on Friday. The stock has a market capitalization of $3,610.00, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.20 and a beta of 1.13. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $23.56. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. Regal Entertainment Group’s revenue 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 0.93 EPS for the current year.

A number of hedge funds have recently modified their holdings of RGC. Schwab Charles Investment Management Inc. raised its holdings in Regal Entertainment Group by 8.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 620,383 shares of the company’s stock worth $12,694,000 after purchasing an additional 50,201 shares during the last quarter. SG Americas Securities LLC acquired a new position in Regal Entertainment Group during the second quarter worth $193,000. Principal Financial Group Inc. raised its holdings in Regal Entertainment Group by 20.2% during the second quarter. Principal Financial Group Inc. now owns 22,726 shares of the company’s stock worth $465,000 after purchasing an additional 3,824 shares during the last quarter. Swiss National Bank raised its holdings in Regal Entertainment Group by 2.2% during the second quarter. Swiss National Bank now owns 190,000 shares of the company’s stock worth $3,887,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Regal Entertainment Group during the second quarter worth $255,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on RGC. MKM Partners cut Regal Entertainment Group from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a report on Wednesday. Wedbush set a $23.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a report on Monday, January 8th. Piper Jaffray Companies set a $23.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a report on Wednesday, January 3rd. B. Riley cut Regal Entertainment Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $24.75 to $23.00 in a report on Tuesday, January 2nd. Finally, Hilliard Lyons cut Regal Entertainment Group from a “long-term buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Regal Entertainment Group presently has a consensus rating of “Hold” and an average target price of $22.23.

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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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