Brookstone Capital Management reduced its stake in shares of Regal Entertainment Group (NYSE:RGC) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,551 shares of the company’s stock after selling 4,984 shares during the quarter. Brookstone Capital Management’s holdings in Regal Entertainment Group were worth $358,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in RGC. The Manufacturers Life Insurance Company raised its stake in Regal Entertainment Group by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after acquiring an additional 373 shares in the last quarter. Tortoise Investment Management LLC acquired a new stake in Regal Entertainment Group during the 3rd quarter worth $117,000. IFP Advisors Inc raised its stake in Regal Entertainment Group by 60.8% during the 3rd quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock worth $139,000 after acquiring an additional 3,294 shares in the last quarter. Spectrum Management Group Inc. acquired a new stake in Regal Entertainment Group during the 3rd quarter worth $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Regal Entertainment Group by 68.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,202 shares of the company’s stock worth $143,000 after acquiring an additional 2,524 shares in the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
Regal Entertainment Group (NYSE:RGC) opened at $23.11 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of -2.84. The company has a market cap of $3,630.19, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.05. Regal Entertainment Group has a one year low of $13.90 and a one year high of $23.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Saturday, February 17th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.88 dividend on an annualized basis and a yield of 3.81%. Regal Entertainment Group’s dividend payout ratio is presently 101.15%.
Several equities research analysts recently commented on RGC shares. Zacks Investment Research upgraded shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. B. Riley reiterated a “buy” rating and set a $24.75 price target (up from $24.00) on shares of Regal Entertainment Group in a research note on Wednesday, October 25th. Wedbush lowered shares of Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research note on Tuesday, December 5th. Loop Capital cut their price target on shares of Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 23rd. Finally, Morgan Stanley lifted their price target on shares of Regal Entertainment Group from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given 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.
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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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