Hamlin Capital Management LLC increased its stake in shares of Regal Entertainment Group (NYSE:RGC) by 2.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,379,203 shares of the company’s stock after buying an additional 75,497 shares during the period. Regal Entertainment Group accounts for about 3.6% of Hamlin Capital Management LLC’s holdings, making the stock its 3rd largest position. Hamlin Capital Management LLC’s holdings in Regal Entertainment Group were worth $74,478,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of RGC. UBS Group AG boosted its stake in Regal Entertainment Group by 330.5% in the first quarter. UBS Group AG now owns 198,632 shares of the company’s stock valued at $4,199,000 after buying an additional 152,489 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Regal Entertainment Group during the first quarter valued at about $1,429,000. Canada Pension Plan Investment Board acquired a new position in shares of Regal Entertainment Group during the first quarter valued at about $391,000. Alpine Partners VI LLC acquired a new position in shares of Regal Entertainment Group during the first quarter valued at about $301,000. Finally, M&T Bank Corp raised its position in shares of Regal Entertainment Group by 27.9% in the first quarter. M&T Bank Corp now owns 19,388 shares of the company’s stock valued at $409,000 after buying an additional 4,225 shares during the period. Hedge funds and other institutional investors own 63.44% of the company’s stock.
Regal Entertainment Group (NYSE:RGC) traded up 1.06% during mid-day trading on Wednesday, hitting $21.83. 822,883 shares of the stock were exchanged. Regal Entertainment Group has a 1-year low of $16.50 and a 1-year high of $24.19. The company has a market capitalization of $3.41 billion, a PE ratio of 22.69 and a beta of 1.13. The stock has a 50 day moving average price of $21.55 and a 200 day moving average price of $21.37.
Regal Entertainment Group (NYSE:RGC) last released its earnings results on Tuesday, July 26th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $785.90 million for the quarter, compared to analyst estimates of $801.49 million. Regal Entertainment Group had a net margin of 4.80% and a negative return on equity of 18.52%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, equities analysts anticipate that Regal Entertainment Group will post $0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Wednesday, August 31st. Regal Entertainment Group’s dividend payout ratio is presently 91.67%.
Several research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed a “sell” rating and issued a $19.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Regal Entertainment Group in a research note on Sunday, June 12th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Regal Entertainment Group in a research note on Wednesday, September 21st. Hilliard Lyons lowered shares of Regal Entertainment Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 27th. Finally, Loop Capital assumed coverage on shares of Regal Entertainment Group in a research note on Tuesday, August 23rd. They issued a “hold” rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.53.
In other Regal Entertainment Group news, insider Gregory W. Dunn sold 30,765 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $21.75, for a total transaction of $669,138.75. Following the completion of the sale, the insider now owns 74,151 shares of the company’s stock, valued at approximately $1,612,784.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Philip F. Anschutz sold 13,000,000 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $21.60, for a total transaction of $280,800,000.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
About Regal Entertainment Group
Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
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