Aperio Group LLC Purchases 4,042 Shares of Regal Entertainment Group (RGC)
Aperio Group LLC lifted its position in Regal Entertainment Group (NYSE:RGC) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,727 shares of the company’s stock after acquiring an additional 4,042 shares during the quarter. Aperio Group LLC’s holdings in Regal Entertainment Group were worth $940,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in RGC. Wellington Management Group LLP raised its holdings in shares of Regal Entertainment Group by 20.6% in the first quarter. Wellington Management Group LLP now owns 19,132 shares of the company’s stock valued at $432,000 after acquiring an additional 3,268 shares in the last quarter. BlackRock Inc. raised its holdings in Regal Entertainment Group by 10,841.3% in the first 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 in the last quarter. State Street Corp raised its holdings in Regal Entertainment Group by 3.9% in the first quarter. State Street Corp now owns 1,291,874 shares of the company’s stock worth $29,173,000 after purchasing an additional 48,414 shares in the last quarter. James Investment Research Inc. bought a new position in Regal Entertainment Group in the second quarter worth about $224,000. Finally, Peregrine Capital Management LLC raised its holdings in Regal Entertainment Group by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 359,578 shares of the company’s stock worth $7,357,000 after purchasing an additional 7,198 shares in the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.
Shares of Regal Entertainment Group (RGC) opened at $16.17 on Monday. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.07. The firm has a market capitalization of $2,538.93, a PE ratio of 18.38, a PEG ratio of 1.70 and a beta of 1.05. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of -2.84.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $701.66 million. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. research analysts forecast that Regal Entertainment Group will post 0.95 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Friday, December 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.44%. Regal Entertainment Group’s payout ratio is 101.15%.
Regal Entertainment Group announced that its Board of Directors has approved a share buyback plan on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have commented on the stock. Wedbush reiterated a “buy” rating on shares of Regal Entertainment Group in a report on Thursday, July 27th. B. Riley reiterated a “buy” rating and issued a $26.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $22.00 target price on shares of Regal Entertainment Group in a report on Thursday, July 27th. Piper Jaffray Companies set a $19.00 target price on shares of Regal Entertainment Group and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a 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 given a buy rating to the company. Regal Entertainment Group presently has an average rating of “Hold” and an average price target of $20.90.
In other news, CFO David Ownby bought 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were purchased at an average price of $14.04 per share, for a total transaction 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 $3,223,204.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas D. Bell, Jr. bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $14.76 per share, for a total transaction of $369,000.00. Following the transaction, the director now owns 126,939 shares of the company’s stock, valued at $1,873,619.64. The disclosure for this purchase can be found here. Insiders have bought 242,500 shares of company stock worth $641,000 in the last 90 days. Insiders own 2.00% of the company’s stock.
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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