Barings LLC bought a new position in shares of Regal Entertainment Group (NYSE:RGC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 35,316 shares of the company’s stock, valued at approximately $812,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGC. The Manufacturers Life Insurance Company raised its holdings 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 acquiring an additional 373 shares in the last quarter. Tortoise Investment Management LLC bought a new stake in Regal Entertainment Group during the third quarter worth about $117,000. IFP Advisors Inc raised its holdings 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 acquiring an additional 3,294 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in Regal Entertainment Group during the third quarter worth about $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Regal Entertainment Group by 68.6% during the fourth 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. Institutional investors and hedge funds own 76.23% of the company’s stock.
Regal Entertainment Group (RGC) opened at $22.96 on Thursday. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $23.17. 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 $3,610.00, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Saturday, February 17th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Thursday, February 15th. Regal Entertainment Group’s payout ratio is 106.02%.
Several research firms recently issued reports on RGC. Zacks Investment Research upgraded Regal Entertainment Group from a “sell” rating to a “hold” rating in a report on Friday, February 9th. B. Riley downgraded Regal Entertainment Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $24.75 to $23.00 in a research 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. MKM Partners downgraded Regal Entertainment Group from a “buy” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Wednesday, January 17th. Finally, Piper Jaffray Companies set a $23.00 price target on Regal Entertainment Group and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Regal Entertainment Group currently has an average rating of “Hold” and an average price target of $22.23.
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Regal Entertainment Group 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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