TCW Group Inc. Increases Stake in Regal Entertainment Group (RGC)
TCW Group Inc. grew its position in shares of Regal Entertainment Group (NYSE:RGC) by 29.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 737,579 shares of the company’s stock after buying an additional 166,341 shares during the quarter. TCW Group Inc. owned approximately 0.47% of Regal Entertainment Group worth $11,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of RGC. BlackRock Inc. lifted its holdings in Regal Entertainment Group by 10,841.3% in the 1st quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock worth $87,192,000 after purchasing an additional 3,826,206 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Regal Entertainment Group in the 2nd quarter worth approximately $48,366,000. Victory Capital Management Inc. bought a new position in Regal Entertainment Group in the 3rd quarter worth approximately $22,557,000. Alliancebernstein L.P. increased its position in Regal Entertainment Group by 11.6% in the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock worth $206,503,000 after buying an additional 1,048,051 shares during the period. Finally, Voya Investment Management LLC increased its position in Regal Entertainment Group by 25.2% in the 2nd quarter. Voya Investment Management LLC now owns 4,322,636 shares of the company’s stock worth $88,441,000 after buying an additional 870,550 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.
Several research analysts have commented on RGC shares. Wedbush set a $20.00 price target on Regal Entertainment Group and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the stock a “hold” rating in a research report on Thursday, July 27th. Royal Bank Of Canada raised Regal Entertainment Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $20.00 in a research report on Thursday, October 26th. They noted that the move was a valuation call. Loop Capital lowered their price objective on Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 23rd. Finally, BidaskClub cut Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Regal Entertainment Group has an average rating of “Hold” and a consensus price target of $20.90.
Regal Entertainment Group (RGC) traded down $0.37 during trading on Thursday, reaching $15.91. The company’s stock had a trading volume of 3,972,600 shares, compared to its average volume of 2,526,105. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84. The firm has a market capitalization of $2,556.48, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.73 and a beta of 1.05. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79.
Regal Entertainment Group (NYSE:RGC) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. equities analysts forecast that Regal Entertainment Group will post 0.94 EPS for the current year.
Regal Entertainment Group declared that its board has authorized a stock repurchase plan on Thursday, August 31st that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group’s dividend payout ratio (DPR) is presently 101.15%.
In related news, Director Stephen A. Kaplan bought 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were purchased at an average price of $14.87 per share, with a total value of $148,700.00. Following the completion of the purchase, the director now owns 155,572 shares of the company’s stock, valued at approximately $2,313,355.64. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Ownby bought 7,500 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $105,300.00. Following the purchase, the chief financial officer now directly owns 229,573 shares of the company’s stock, valued at approximately $3,223,204.92. The disclosure for this purchase can be found here. Insiders have bought 242,500 shares of company stock worth $641,000 in the last ninety days. 2.00% of the stock is currently owned by insiders.
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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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