Panagora Asset Management Inc. grew its position in shares of Marcus Corp (NYSE:MCS) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,550 shares of the company’s stock after acquiring an additional 13,265 shares during the quarter. Panagora Asset Management Inc. owned about 0.40% of Marcus worth $4,691,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in shares of Marcus during the second quarter valued at approximately $147,000. Raymond James & Associates purchased a new position in shares of Marcus during the second quarter valued at approximately $208,000. Alambic Investment Management L.P. purchased a new position in shares of Marcus during the third quarter valued at approximately $210,000. Chicago Equity Partners LLC purchased a new position in shares of Marcus during the third quarter valued at approximately $218,000. Finally, SG Americas Securities LLC purchased a new position in shares of Marcus during the second quarter valued at approximately $258,000. Hedge funds and other institutional investors own 62.88% of the company’s stock.
Shares of NYSE:MCS opened at $41.30 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.47 and a current ratio of 0.47. Marcus Corp has a 12-month low of $23.55 and a 12-month high of $44.61.
Marcus (NYSE:MCS) last announced its earnings results on Thursday, October 25th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.09. The company had revenue of $170.60 million for the quarter, compared to analysts’ expectations of $170.47 million. Marcus had a return on equity of 12.54% and a net margin of 11.46%. As a group, research analysts predict that Marcus Corp will post 1.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, November 26th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.45%. Marcus’s payout ratio is 38.96%.
In related news, insider Gregory S. Marcus sold 89,093 shares of Marcus stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $41.05, for a total transaction of $3,657,267.65. Following the transaction, the insider now owns 194,687 shares of the company’s stock, valued at $7,991,901.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory S. Marcus sold 55,000 shares of Marcus stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $40.88, for a total value of $2,248,400.00. Following the transaction, the chief executive officer now directly owns 194,687 shares in the company, valued at approximately $7,958,804.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,093 shares of company stock worth $6,117,268. 32.88% of the stock is owned by insiders.
Several brokerages recently issued reports on MCS. Zacks Investment Research raised Marcus from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, October 10th. B. Riley cut Marcus from a “buy” rating to a “neutral” rating and cut their target price for the company from $42.50 to $41.00 in a research report on Wednesday, August 15th.
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Marcus Company Profile
The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts. As of December 28, 2017, the company operated approximately 69 movie theatres with 895 screens in Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, and Ohio; owned or managed approximately 4,841 hotel and resort rooms; and 19 hotels, resorts, and other properties for third parties in nine states.
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