Regal Entertainment Group (RGC) Shares Sold by First Trust Advisors LP
First Trust Advisors LP lowered its position in Regal Entertainment Group (NYSE:RGC) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 320,676 shares of the company’s stock after selling 17,872 shares during the period. First Trust Advisors LP owned about 0.24% of Regal Entertainment Group worth $6,561,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its stake in Regal Entertainment Group by 6.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 122,062 shares of the company’s stock worth $2,515,000 after buying an additional 6,882 shares in the last quarter. Glen Harbor Capital Management LLC bought a new stake in Regal Entertainment Group during the first quarter worth approximately $464,000. First Mercantile Trust Co. increased its stake in Regal Entertainment Group by 9.3% in the first quarter. First Mercantile Trust Co. now owns 16,960 shares of the company’s stock worth $383,000 after buying an additional 1,440 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Regal Entertainment Group by 2.5% in the first quarter. Janney Montgomery Scott LLC now owns 60,160 shares of the company’s stock worth $1,358,000 after buying an additional 1,473 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Regal Entertainment Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 747,402 shares of the company’s stock worth $16,871,000 after buying an additional 3,072 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
Regal Entertainment Group (NYSE RGC) opened at 14.67 on Wednesday. The firm’s 50-day moving average is $18.05 and its 200-day moving average is $20.56. The firm has a market cap of $2.29 billion, a PE ratio of 13.62 and a beta of 0.92. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The company had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. Regal Entertainment Group’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities analysts expect that Regal Entertainment Group will post $1.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.88 annualized dividend and a dividend yield of 6.00%. Regal Entertainment Group’s payout ratio is currently 82.24%.
RGC has been the topic of a number of research analyst reports. Loop Capital raised shares of Regal Entertainment Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $25.00 in a report on Tuesday, May 16th. Hilliard Lyons raised shares of Regal Entertainment Group to a “buy” rating in a report on Thursday, May 18th. They noted that the move was a valuation call. Moffett Nathanson downgraded shares of Regal Entertainment Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $21.00 to $17.00 in a report on Monday, June 12th. Royal Bank Of Canada decreased their price objective on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, June 22nd. Finally, Credit Suisse Group decreased their price objective on shares of Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Five investment analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $24.57.
In other Regal Entertainment Group news, Director Stephen A. Kaplan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Ownby acquired 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $14.04 per share, with a total value of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders have bought a total of 242,500 shares of company stock valued at $641,000 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
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.
Want to see what other hedge funds are holding RGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regal Entertainment Group (NYSE:RGC).
Receive News & Stock Ratings for Regal Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Entertainment Group and related stocks with our FREE daily email newsletter.