Regal Entertainment Group (RGC) Position Cut by Gateway Investment Advisers LLC
Gateway Investment Advisers LLC cut its stake in Regal Entertainment Group (NYSE:RGC) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,975 shares of the company’s stock after selling 140 shares during the period. Gateway Investment Advisers LLC’s holdings in Regal Entertainment Group were worth $654,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Parallel Advisors LLC increased 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 valued at $153,000 after buying an additional 145 shares during the period. New York State Teachers Retirement System purchased a new position in Regal Entertainment Group during the fourth quarter valued at $148,000. Farmers National Bank boosted its position in Regal Entertainment Group by 6.6% in the first quarter. Farmers National Bank now owns 8,100 shares of the company’s stock valued at $176,000 after buying an additional 500 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Regal Entertainment Group during the first quarter valued at $200,000. Finally, LaSalle Street Capital Management LLC purchased a new position in Regal Entertainment Group during the first quarter valued at $200,000. Institutional investors own 77.19% of the company’s stock.
Regal Entertainment Group (RGC) traded down 7.69% during trading on Friday, reaching $15.12. The company’s stock had a trading volume of 5,387,257 shares. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 14.04 and a beta of 0.92. Regal Entertainment Group has a 12 month low of $15.09 and a 12 month high of $24.79. The stock’s 50 day moving average is $18.78 and its 200 day moving average is $20.85.
Regal Entertainment Group (NYSE:RGC) last announced its quarterly earnings results 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 negative return on equity of 20.42% and a net margin of 5.24%. The business had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same period in the previous year, the company posted $0.23 EPS. Regal Entertainment Group’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities analysts expect that Regal Entertainment Group will post $1.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a $0.22 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 5.82%. Regal Entertainment Group’s payout ratio is presently 82.24%.
Several research firms have recently weighed in on RGC. BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. B. Riley reissued a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a research report on Thursday, July 27th. Wedbush reissued a “buy” rating on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $22.00 price target on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Five research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target 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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