Cornerstone Capital Management Holdings LLC. Cuts Holdings in Regal Entertainment Group (RGC)

Cornerstone Capital Management Holdings LLC. cut its holdings in shares of Regal Entertainment Group (NYSE:RGC) by 24.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 291,489 shares of the company’s stock after selling 92,739 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.19% of Regal Entertainment Group worth $5,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc raised its position in shares of Regal Entertainment Group by 41.8% in the 1st quarter. Legal & General Group Plc now owns 96,387 shares of the company’s stock valued at $2,177,000 after acquiring an additional 28,399 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Regal Entertainment Group in the 1st quarter valued at approximately $1,856,000. Martingale Asset Management L P raised its position 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 acquiring an additional 79,693 shares during the period. Barings LLC raised its position in shares of Regal Entertainment Group by 60.0% in the 1st quarter. Barings LLC now owns 110,858 shares of the company’s stock valued at $2,503,000 after acquiring an additional 41,558 shares during the period. Finally, Dynamic Advisors Solutions LLC raised its position in shares of Regal Entertainment Group by 4.5% in the 2nd quarter. Dynamic Advisors Solutions LLC now owns 183,991 shares of the company’s stock valued at $3,764,000 after acquiring an additional 7,926 shares during the period. Institutional investors own 82.41% of the company’s stock.

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In related news, Director Stephen A. Kaplan purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of $14.87 per share, with a total value of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at approximately $2,313,355.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas D. Bell, Jr. purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $14.76 per share, with a total value of $369,000.00. Following the completion of the transaction, the director now directly owns 126,939 shares in the company, valued at approximately $1,873,619.64. The disclosure for this purchase can be found here. Insiders purchased a total of 242,500 shares of company stock valued at $641,000 over the last three months. 2.00% of the stock is currently owned by insiders.

Regal Entertainment Group (NYSE:RGC) opened at 15.87 on Thursday. The company has a market capitalization of $2.48 billion, a PE ratio of 14.74 and a beta of 0.97. The company has a 50 day moving average of $15.76 and a 200 day moving average of $19.18. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, September 5th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend was Thursday, August 31st. Regal Entertainment Group’s payout ratio is currently 82.24%.

Regal Entertainment Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 31st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

RGC has been the topic of a number of analyst reports. Royal Bank Of Canada cut their price target on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 22nd. B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Regal Entertainment Group in a research report on Tuesday, July 18th. Piper Jaffray Companies set a $19.00 price target on shares of Regal Entertainment Group and gave the company a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, MKM Partners upgraded shares of Regal Entertainment Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $22.00 in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Regal Entertainment Group presently has a consensus rating of “Hold” and a consensus 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.

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

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