Barrington Cuts Regal Entertainment Group’s Price Target

Regal-CinemaIn a note, Thursday morning, Barrington Research dropped the target price for Regal Entertainment Group (NYSE: RGC) from $24.00 to $21.00. Currently, the firm has rated the stock to outperform.

Of course, Regal Entertainment Group manages a circuit of cinemas in the United States consisting of a total of 7,367 screens spread through 574 theatres in 42 states as well as outlets in Guam, American Samoa, the District of Columbia, and Saipan.

Altogether, then,, RGC opened on Thursday at 17.95, carrying a 50-day moving average of $17.70 and a 200-day moving average of $18.68. Currently, RGC’s market capitalization is $2.79 billion with a P/E ratio of 19.30. The stock has a one-year low of $16.50 ranging, at its highest, to $24.52.

However, many other equities analysts have also reported on the state of RGC stock. Morgan Stanley, for example, had cut Regal Entertainment Group shares from a rating of equal weight to underweight, dropping their target price from $22.00 to $18.00, in s note from October of last year. Similarly, MKM Partners dropped its price objective from $22.00 to $21.00, not even a week later, setting a neutral rating on the stock.   Finally, RBC Capital had also cut its shares of RGC from an outperform rating to a sector perform rating, at the same time dropping its target price from $24.00 to $19.00, in a note released at the end of January. RBC also made sure to note that their moves was based solely on valuation.

But many other large investors have contributed to the movement of this stock. Simplex Trading, for example improved its shares in RGC by 150 percent in the fourth quarter of last year. They now own 25 shares of the company after buying 15 shares last quarter. In addition Utah Retirement Systems also increased its investments in Regal Entertainment Group by 0.7 percent, during the fourth quarter; they now own 14,837 shares, valued at $280,000. Quantitative Systematic Strategies also acquired a new stake in RGC, with a value of $305,000; Victory Capital Management Inc has raised its stakes by 55.4 percent to now own 21,771 shares valued at $411,000. And finally, US bancorp DE also increased its stakes by purchasing another 3,788 shares to reach a total value of $414,000.