Gotham Asset Management LLC Invests $1.77 Million in Regal Entertainment Group (RGC) Stock

Gotham Asset Management LLC acquired a new position in Regal Entertainment Group (NYSE:RGC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 86,305 shares of the company’s stock, valued at approximately $1,766,000. Gotham Asset Management LLC owned approximately 0.06% of Regal Entertainment Group at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RGC. BlackRock Inc. lifted its stake in Regal Entertainment Group by 10,841.3% in the 1st quarter. BlackRock Inc. now owns 3,861,499 shares of the company’s stock worth $87,192,000 after acquiring an additional 3,826,206 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Regal Entertainment Group in the 2nd quarter worth about $48,366,000. Vanguard Group Inc. lifted its stake in Regal Entertainment Group by 10.7% in the 1st quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock worth $289,675,000 after acquiring an additional 1,241,331 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Regal Entertainment Group by 11.6% in the 2nd quarter. Alliancebernstein L.P. now owns 10,092,993 shares of the company’s stock worth $206,503,000 after acquiring an additional 1,048,051 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Regal Entertainment Group in the 1st quarter worth about $20,986,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Regal Entertainment Group (RGC) opened at 16.18 on Monday. Regal Entertainment Group has a one year low of $13.90 and a one year high of $24.79. The stock’s 50 day moving average price is $15.92 and its 200-day moving average price is $19.07. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 15.02 and a beta of 0.97.

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

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

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In other Regal Entertainment Group news, CFO David Ownby purchased 7,500 shares of the stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $14.04 per share, with a total value of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at $3,223,204.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired 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 of the company’s stock, valued at $1,873,619.64. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 242,500 shares of company stock worth $641,000. Company insiders own 2.00% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Regal Entertainment Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Wedbush reissued an “outperform” rating and issued a $23.00 price objective (up from $19.00) on shares of Regal Entertainment Group in a research note on Monday, October 9th. Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price objective for the company in a research note on Thursday, October 5th. Credit Suisse Group reduced their price objective on Regal Entertainment Group from $17.00 to $13.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Finally, Benchmark Co. reduced their price objective on Regal Entertainment Group from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. 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’s stock. The company has a consensus rating of “Hold” and an average target price of $23.38.

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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