First Allied Advisory Services Inc. trimmed its holdings in Regal Entertainment Group (NYSE:RGC) by 23.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,287 shares of the company’s stock after selling 8,772 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Regal Entertainment Group were worth $578,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Regal Entertainment Group by 164.3% in the 2nd quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after acquiring an additional 3,369 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Regal Entertainment Group by 169.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after acquiring an additional 3,471 shares during the period. Parallel Advisors LLC increased its holdings in shares of Regal Entertainment Group by 2.1% in the 1st quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock valued at $153,000 after acquiring an additional 145 shares during the period. Farmers National Bank increased its holdings in shares of Regal Entertainment Group by 6.6% in the 1st quarter. Farmers National Bank now owns 8,100 shares of the company’s stock valued at $176,000 after acquiring an additional 500 shares during the period. Finally, Ffcm LLC increased its holdings in shares of Regal Entertainment Group by 123.4% in the 2nd quarter. Ffcm LLC now owns 8,109 shares of the company’s stock valued at $165,000 after acquiring an additional 4,480 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Thomas D. Bell, Jr. bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $14.76 per share, with a total value of $369,000.00. Following the completion of the purchase, the director now directly owns 126,939 shares of the company’s stock, valued at approximately $1,873,619.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Ownby bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were purchased at an average cost of $14.04 per share, with a total value of $105,300.00. Following the purchase, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at $3,223,204.92. The disclosure for this purchase can be found here. Insiders have purchased 242,500 shares of company stock valued at $641,000 in the last ninety days. Company insiders own 2.00% of the company’s stock.

RGC has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price 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. B. Riley reaffirmed a “buy” rating and issued a $26.00 target price on shares of Regal Entertainment Group in a report on Tuesday, July 18th. Piper Jaffray Companies set a $19.00 target price on shares of Regal Entertainment Group and gave the company a “hold” rating in a report on Thursday, July 27th. BidaskClub cut shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, MKM Partners raised shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and lifted their target price 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. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.69.

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Regal Entertainment Group (NYSE:RGC) opened at 16.92 on Thursday. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $24.79. The company has a 50-day moving average of $15.64 and a 200-day moving average of $19.39. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 15.71 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $764.20 million for the quarter, compared to analyst estimates of $764.15 million. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. Regal Entertainment Group’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. Equities research analysts expect that Regal Entertainment Group will post $0.98 EPS for the current year.

Regal Entertainment Group declared that its board has authorized a share buyback plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.88 annualized dividend and a yield of 5.20%. Regal Entertainment Group’s dividend payout ratio is currently 82.24%.

Regal Entertainment Group 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.

Institutional Ownership by Quarter for Regal Entertainment Group (NYSE:RGC)

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