Bank of New York Mellon Corp cut its position in shares of Marcus Corp (NYSE:MCS) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 270,863 shares of the company’s stock after selling 27,556 shares during the period. Bank of New York Mellon Corp owned about 0.97% of Marcus Corp worth $5,715,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Savant Capital LLC increased its stake in shares of Marcus Corp by 1.4% in the second quarter. Savant Capital LLC now owns 35,900 shares of the company’s stock worth $757,000 after buying an additional 479 shares during the period. Bank of Montreal Can bought a new stake in shares of Marcus Corp during the second quarter worth $251,000. MSI Financial Services Inc increased its stake in shares of Marcus Corp by 340.5% in the second quarter. MSI Financial Services Inc now owns 21,138 shares of the company’s stock worth $446,000 after buying an additional 16,339 shares during the period. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Marcus Corp during the second quarter worth $1,394,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Marcus Corp by 114.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,818 shares of the company’s stock worth $123,000 after buying an additional 3,100 shares during the period. 55.93% of the stock is owned by hedge funds and other institutional investors.
Marcus Corp (NYSE:MCS) traded up 2.69% during trading on Thursday, hitting $24.45. 62,814 shares of the stock were exchanged. The stock has a market capitalization of $673.82 million, a price-to-earnings ratio of 15.90 and a beta of 0.60. The firm has a 50-day moving average of $23.24 and a 200-day moving average of $20.85. Marcus Corp has a 52 week low of $17.44 and a 52 week high of $24.45.
Marcus Corp (NYSE:MCS) last issued its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.05. The business had revenue of $134 million for the quarter, compared to the consensus estimate of $129.43 million. Marcus Corp had a net margin of 6.55% and a return on equity of 9.45%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 earnings per share. Equities research analysts anticipate that Marcus Corp will post $1.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a dividend of $0.1125 per share. The ex-dividend date was Tuesday, August 23rd. This represents a $0.45 dividend on an annualized basis and a yield of 1.84%. Marcus Corp’s payout ratio is 36.00%.
A number of brokerages have weighed in on MCS. B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of Marcus Corp in a report on Tuesday, August 23rd. Zacks Investment Research raised shares of Marcus Corp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, September 14th. Finally, Benchmark Co. increased their price target on shares of Marcus Corp from $25.24 to $26.11 and gave the company a “buy” rating in a report on Friday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $28.28.
In related news, CFO Douglas A. Neis sold 2,500 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $22.97, for a total transaction of $57,425.00. Following the transaction, the chief financial officer now directly owns 51,002 shares in the company, valued at $1,171,515.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas F. Kissinger sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $23.05, for a total transaction of $34,575.00. Following the transaction, the vice president now owns 47,254 shares in the company, valued at $1,089,204.70. The disclosure for this sale can be found here. Corporate insiders own 33.75% of the company’s stock.
About Marcus Corp
The Marcus Corporation owns and operates movie theatres, and hotels and resorts. The Company operates through two business segments: movie theatres, and hotels and resorts. Its theatre operations include around 55 movie theatres with around 681 screens throughout Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, including two movie theatres with 11 screens in Wisconsin and Nebraska owned by third parties and managed by it.
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