Regal Entertainment Group (RGC) Shares Sold by Payden & Rygel

Payden & Rygel decreased its stake in shares of Regal Entertainment Group (NYSE:RGC) by 69.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,000 shares of the company’s stock after selling 433,300 shares during the quarter. Payden & Rygel owned approximately 0.12% of Regal Entertainment Group worth $3,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hamlin Capital Management LLC raised its holdings in shares of Regal Entertainment Group by 1.4% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,335,507 shares of the company’s stock valued at $69,368,000 after purchasing an additional 60,489 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of Regal Entertainment Group by 15.8% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 206,425 shares of the company’s stock valued at $3,303,000 after purchasing an additional 28,175 shares in the last quarter. Edge Advisors LLC raised its holdings in shares of Regal Entertainment Group by 15.3% in the 3rd quarter. Edge Advisors LLC now owns 174,421 shares of the company’s stock valued at $2,789,000 after purchasing an additional 23,174 shares in the last quarter. Martingale Asset Management L P raised its holdings in shares of Regal Entertainment Group by 19.0% in the 2nd quarter. Martingale Asset Management L P now owns 498,694 shares of the company’s stock valued at $10,205,000 after purchasing an additional 79,693 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Regal Entertainment Group by 17.2% in the 2nd quarter. Royal Bank of Canada now owns 724,860 shares of the company’s stock valued at $14,831,000 after purchasing an additional 106,214 shares in the last quarter. Institutional investors own 85.33% of the company’s stock.

Shares of Regal Entertainment Group (RGC) traded down $0.10 during trading on Thursday, hitting $22.58. 16,140,800 shares of the stock were exchanged, compared to its average volume of 3,256,752. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. Regal Entertainment Group has a 52-week low of $13.90 and a 52-week high of $23.56. The stock has a market cap of $3,561.10, a P/E ratio of 25.77, a P/E/G ratio of 2.38 and a beta of 1.14.

Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Regal Entertainment Group had a net margin of 4.41% and a negative return on equity of 16.36%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $701.66 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. equities research analysts expect that Regal Entertainment Group will post 0.95 earnings per share for the current fiscal year.

Regal Entertainment Group declared that its Board of Directors has initiated a share repurchase program on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Friday, December 1st. Regal Entertainment Group’s payout ratio is currently 101.15%.

Several equities research analysts have recently commented on RGC shares. Zacks Investment Research upgraded shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. B. Riley restated a “buy” rating and issued a $24.75 price target (up previously from $24.00) on shares of Regal Entertainment Group in a report on Wednesday, October 25th. MKM Partners upgraded shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Wedbush set a $20.00 price target on shares of Regal Entertainment Group and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Loop Capital reduced their price target on shares of Regal Entertainment Group from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.73.

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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.

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

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