First Trust Advisors LP cut its position in shares of Regal Entertainment Group (NYSE:RGC) by 67.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,350 shares of the company’s stock after selling 278,409 shares during the quarter. First Trust Advisors LP owned 0.09% of Regal Entertainment Group worth $3,137,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Alpine Associates Management Inc. bought a new position in shares of Regal Entertainment Group during the fourth quarter worth about $43,516,000. Barings LLC bought a new position in shares of Regal Entertainment Group during the fourth quarter worth about $812,000. Pentwater Capital Management LP bought a new position in shares of Regal Entertainment Group during the fourth quarter worth about $3,452,000. Paradigm Capital Management Inc. NY grew its holdings in shares of Regal Entertainment Group by 4.9% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 216,525 shares of the company’s stock worth $4,983,000 after buying an additional 10,100 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Regal Entertainment Group by 9.1% during the fourth quarter. California Public Employees Retirement System now owns 335,115 shares of the company’s stock worth $7,711,000 after buying an additional 28,075 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
A number of research firms recently issued reports on RGC. Benchmark increased their price objective on Regal Entertainment Group from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Piper Jaffray Companies set a $23.00 price objective on Regal Entertainment Group and gave the stock a “hold” rating in a report on Wednesday, January 3rd. B. Riley reiterated a “buy” rating and set a $24.75 price objective on shares of Regal Entertainment Group in a report on Wednesday, November 29th. MKM Partners cut Regal Entertainment Group from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada increased their price target on Regal Entertainment Group to $23.00 in a research report on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.50.
Shares of RGC stock traded up $0.02 during midday trading on Wednesday, reaching $22.99. The company had a trading volume of 4,489,900 shares, compared to its average volume of 4,310,940. Regal Entertainment Group has a 1 year low of $13.90 and a 1 year high of $23.17. The firm has a market capitalization of $3,610.00, a PE ratio of 27.70, a PEG ratio of 2.22 and a beta of 1.05. 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Saturday, February 17th were given a $0.22 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.83%. Regal Entertainment Group’s payout ratio is 106.02%.
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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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