Bank of America Corp DE Increases Holdings in Marcus Corp (MCS)

Bank of America Corp DE raised its holdings in shares of Marcus Corp (NYSE:MCS) by 35.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 104,005 shares of the company’s stock after buying an additional 27,160 shares during the quarter. Bank of America Corp DE’s holdings in Marcus were worth $3,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Thompson Davis & CO. Inc. lifted its stake in shares of Marcus by 92.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 3,207 shares of the company’s stock valued at $104,000 after purchasing an additional 1,539 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Marcus in the 2nd quarter valued at $147,000. Sei Investments Co. lifted its stake in shares of Marcus by 55.6% in the 1st quarter. Sei Investments Co. now owns 4,817 shares of the company’s stock valued at $146,000 after purchasing an additional 1,721 shares during the period. Raymond James & Associates acquired a new position in shares of Marcus in the 2nd quarter valued at $208,000. Finally, SG Americas Securities LLC acquired a new position in shares of Marcus in the 2nd quarter valued at $258,000. Institutional investors and hedge funds own 60.17% of the company’s stock.

Several research firms recently issued reports on MCS. ValuEngine upgraded shares of Marcus from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Barrington Research reiterated a “buy” rating and issued a $36.00 target price on shares of Marcus in a research note on Thursday, July 26th. B. Riley cut shares of Marcus from a “buy” rating to a “neutral” rating and decreased their target price for the company from $42.50 to $41.00 in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Marcus from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th.

MCS opened at $39.33 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.47 and a debt-to-equity ratio of 0.59. Marcus Corp has a 1 year low of $23.55 and a 1 year high of $44.61. The firm has a market capitalization of $1.11 billion, a P/E ratio of 25.54, a PEG ratio of 1.40 and a beta of 0.60.

Marcus (NYSE:MCS) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $170.60 million during the quarter, compared to analyst estimates of $170.47 million. Marcus had a net margin of 11.46% and a return on equity of 12.54%. As a group, equities research analysts forecast that Marcus Corp will post 1.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, November 26th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.53%. Marcus’s payout ratio is presently 38.96%.

In related news, Director Bruce J. Olson sold 3,600 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $36.90, for a total value of $132,840.00. Following the completion of the sale, the director now owns 5,604 shares of the company’s stock, valued at approximately $206,787.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rolando B. Rodriguez sold 10,450 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $40.56, for a total transaction of $423,852.00. Following the completion of the sale, the chief executive officer now directly owns 36,975 shares of the company’s stock, valued at approximately $1,499,706. The disclosure for this sale can be found here. In the last three months, insiders sold 174,943 shares of company stock valued at $7,127,460. 32.88% of the stock is owned by insiders.

Marcus Profile

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts. As of December 28, 2017, the company operated approximately 69 movie theatres with 895 screens in Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, and Ohio; owned or managed approximately 4,841 hotel and resort rooms; and 19 hotels, resorts, and other properties for third parties in nine states.

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Institutional Ownership by Quarter for Marcus (NYSE:MCS)

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