Regal Entertainment Group (RGC) Upgraded by Zacks Investment Research to Hold
Regal Entertainment Group (NYSE:RGC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc. “
A number of other equities analysts also recently commented on the company. B. Riley reiterated a “buy” rating and set a $24.75 price objective (up previously from $24.00) on shares of Regal Entertainment Group in a research report on Wednesday, October 25th. Wedbush downgraded Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research report on Tuesday, December 5th. Loop Capital reduced 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. Morgan Stanley lifted their price objective on Regal Entertainment Group from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Finally, Moffett Nathanson upgraded Regal Entertainment Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.23.
A number of large investors have recently bought and sold shares of RGC. The Manufacturers Life Insurance Company raised its position in Regal Entertainment Group by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after purchasing an additional 373 shares during the period. Tortoise Investment Management LLC purchased a new stake in Regal Entertainment Group in the third quarter valued at $117,000. Farmers National Bank raised its position in Regal Entertainment Group by 901.2% in the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after purchasing an additional 72,996 shares during the period. IFP Advisors Inc raised its position in Regal Entertainment Group by 60.8% in the third quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock valued at $139,000 after purchasing an additional 3,294 shares during the period. Finally, Spectrum Management Group Inc. purchased a new stake in Regal Entertainment Group in the third quarter valued at $141,000. Institutional investors own 84.30% 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.
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