Marcus Corp. (MCS) Director Sells $97,160.00 in Stock
Marcus Corp. (NYSE:MCS) Director Philip L. Milstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $24.29, for a total transaction of $97,160.00. Following the completion of the transaction, the director now directly owns 80,213 shares of the company’s stock, valued at approximately $1,948,373.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Marcus Corp. (NYSE:MCS) opened at 24.80 on Wednesday. Marcus Corp. has a 52-week low of $17.44 and a 52-week high of $24.90. The stock’s 50 day moving average is $23.46 and its 200 day moving average is $21.00. The stock has a market capitalization of $683.46 million, a PE ratio of 16.12 and a beta of 0.60.
Marcus Corp. (NYSE:MCS) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The business earned $134 million during the quarter, compared to analyst estimates of $129.43 million. Marcus Corp. had a net margin of 6.55% and a return on equity of 9.45%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Equities research analysts expect that Marcus Corp. will post $1.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, August 23rd. Marcus Corp.’s payout ratio is 36.00%.
Several brokerages have commented on MCS. Benchmark Co. raised their price target on shares of Marcus Corp. from $26.11 to $28.19 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research cut shares of Marcus Corp. from a “buy” rating to a “hold” rating in a research report on Monday. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of Marcus Corp. in a research report on Tuesday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.80.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Marcus Corp. by 114.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,818 shares of the company’s stock worth $123,000 after buying an additional 3,100 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Marcus Corp. during the first quarter worth $174,000. Arizona State Retirement System purchased a new stake in Marcus Corp. during the second quarter worth $206,000. BlackRock Inc. raised its stake in Marcus Corp. by 615.1% in the second quarter. BlackRock Inc. now owns 10,090 shares of the company’s stock worth $213,000 after buying an additional 8,679 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Marcus Corp. during the second quarter worth $251,000. 55.93% of the stock is owned by institutional investors and hedge funds.
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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