Parametric Portfolio Associates LLC Has $13.66 Million Position in Regal Entertainment Group (RGC)

Parametric Portfolio Associates LLC boosted its holdings in Regal Entertainment Group (NYSE:RGC) by 55.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 667,530 shares of the company’s stock after purchasing an additional 238,543 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.50% of Regal Entertainment Group worth $13,658,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Regal Entertainment Group by 6.4% during the first quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock valued at $18,673,000 after acquiring an additional 49,896 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Regal Entertainment Group by 22.1% during the first quarter. Pacer Advisors Inc. now owns 9,372 shares of the company’s stock valued at $212,000 after acquiring an additional 1,695 shares during the last quarter. M&T Bank Corp raised its stake in shares of Regal Entertainment Group by 10.8% during the first quarter. M&T Bank Corp now owns 21,672 shares of the company’s stock valued at $490,000 after acquiring an additional 2,111 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Regal Entertainment Group during the first quarter valued at about $1,856,000. Finally, Schroder Investment Management Group raised its stake in shares of Regal Entertainment Group by 11.0% during the first quarter. Schroder Investment Management Group now owns 82,500 shares of the company’s stock valued at $1,870,000 after acquiring an additional 8,200 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

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Several brokerages have recently commented on RGC. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective on shares of Regal Entertainment Group in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $22.00 price objective on shares of Regal Entertainment Group in a research note on Thursday, July 27th. BidaskClub cut shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Morgan Stanley upgraded shares of Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target on the stock in a research report on Thursday, October 5th. Finally, Wedbush reiterated a “buy” rating on shares of Regal Entertainment Group in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.23.

In related news, CFO David Ownby bought 7,500 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were bought at an average price of $14.04 per share, with a total value of $105,300.00. Following the transaction, the chief financial officer now owns 229,573 shares in the company, valued at $3,223,204.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas D. Bell, Jr. bought 25,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $14.76 per share, for a total transaction of $369,000.00. Following the transaction, the director now owns 126,939 shares in the company, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 242,500 shares of company stock worth $641,000. Insiders own 2.00% of the company’s stock.

Regal Entertainment Group (NYSE RGC) opened at 16.03 on Wednesday. The stock has a 50 day moving average of $15.92 and a 200 day moving average of $19.07. The company has a market cap of $2.51 billion, a P/E ratio of 14.88 and a beta of 0.97. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $24.79.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The firm had revenue of $764.20 million during the quarter, compared to analysts’ expectations of $764.15 million. During the same period in the previous year, the firm earned $0.23 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts expect that Regal Entertainment Group will post $0.97 earnings per share for the current year.

Regal Entertainment Group announced that its board has authorized a stock repurchase program on Thursday, August 31st that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Regal Entertainment Group (NYSE:RGC)

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