Regal Entertainment Group (NYSE:RGC) was downgraded by stock analysts at MKM Partners from a “buy” rating to a “neutral” rating in a report issued on Wednesday, January 17th, Marketbeat reports. They currently have a $23.00 target price on the stock. MKM Partners’ price target would suggest a potential downside of 0.61% from the stock’s previous close.
A number of other analysts have also commented on the company. B. Riley lowered Regal Entertainment Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $24.75 to $23.00 in a report on Tuesday, January 2nd. Wedbush set a $23.00 price target on Regal Entertainment Group and gave the stock a “hold” rating in a research report on Monday, January 8th. Piper Jaffray Companies set a $23.00 target price on Regal Entertainment Group and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Loop Capital downgraded Regal Entertainment Group from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Wednesday, December 6th. Finally, Macquarie downgraded Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Regal Entertainment Group currently has an average rating of “Hold” and a consensus price target of $22.23.
Regal Entertainment Group (NYSE:RGC) traded up $0.03 during mid-day trading on Wednesday, reaching $23.14. The company’s stock had a trading volume of 7,923,268 shares, compared to its average volume of 4,551,033. 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 company has a market capitalization of $3,628.62, a price-to-earnings ratio of 26.60, a PEG ratio of 2.24 and a beta of 1.05. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $23.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in Regal Entertainment Group by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after purchasing an additional 373 shares during the last quarter. Tortoise Investment Management LLC bought a new stake in Regal Entertainment Group during the third quarter worth $117,000. Farmers National Bank lifted its stake in Regal Entertainment Group by 901.2% during the second quarter. Farmers National Bank now owns 81,096 shares of the company’s stock worth $135,000 after purchasing an additional 72,996 shares during the last quarter. IFP Advisors Inc lifted its stake in Regal Entertainment Group by 60.8% during the third quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock worth $139,000 after purchasing an additional 3,294 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new position in shares of Regal Entertainment Group in the 3rd quarter valued at $141,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.
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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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