Regal Entertainment Group (RGC) Holdings Raised by Commerce Bank
Commerce Bank raised its position in shares of Regal Entertainment Group (NYSE:RGC) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,265 shares of the company’s stock after acquiring an additional 600 shares during the period. Commerce Bank’s holdings in Regal Entertainment Group were worth $271,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in RGC. BlackRock Inc. boosted its holdings in Regal Entertainment Group by 10,841.3% during the first quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock valued at $87,192,000 after acquiring an additional 3,826,206 shares during the period. Alliancebernstein L.P. boosted its holdings in Regal Entertainment Group by 24.4% during the first quarter. Alliancebernstein L.P. now owns 9,044,942 shares of the company’s stock valued at $204,235,000 after acquiring an additional 1,774,446 shares during the period. Vanguard Group Inc. boosted its holdings in Regal Entertainment Group by 10.7% during the first quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock valued at $289,675,000 after acquiring an additional 1,241,331 shares during the period. Point72 Asset Management L.P. bought a new stake in Regal Entertainment Group during the first quarter valued at about $20,986,000. Finally, Hamlin Capital Management LLC boosted its holdings in Regal Entertainment Group by 22.5% during the second quarter. Hamlin Capital Management LLC now owns 4,275,018 shares of the company’s stock valued at $87,467,000 after acquiring an additional 783,967 shares during the period. Institutional investors own 82.41% of the company’s stock.
In related news, CFO David Ownby bought 7,500 shares of Regal Entertainment Group 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 acquisition, the chief financial officer now owns 229,573 shares of the company’s stock, valued at approximately $3,223,204.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen A. Kaplan bought 10,000 shares of Regal Entertainment Group stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average cost of $14.87 per share, with a total value of $148,700.00. Following the acquisition, the director now directly owns 155,572 shares in the company, valued at approximately $2,313,355.64. The disclosure for this purchase can be found here. Insiders have purchased a total of 242,500 shares of company stock valued at $641,000 in the last ninety days. 2.00% of the stock is currently owned by insiders.
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A number of research firms have issued reports on RGC. B. Riley restated a “buy” rating and set a $26.00 price target on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Royal Bank Of Canada restated a “hold” rating and set a $22.00 price target on shares of Regal Entertainment Group in a report on Thursday, July 27th. MKM Partners upgraded shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. BidaskClub cut shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $23.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 20th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.43.
Regal Entertainment Group (NYSE RGC) opened at 15.24 on Tuesday. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 14.15 and a beta of 0.96. The company has a 50-day moving average of $16.82 and a 200 day moving average of $20.11.
Regal Entertainment Group (NYSE:RGC) last announced its earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by $0.02. The company had revenue of $764.20 million for the quarter, compared to the consensus estimate of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that Regal Entertainment Group will post $1.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend is Thursday, August 31st. Regal Entertainment Group’s payout ratio is 82.24%.
Regal Entertainment Group announced that its board has initiated a share buyback plan on Thursday, August 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Regal Entertainment Group Company Profile
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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