Morgan Stanley Sells 410,890 Shares of Regal Entertainment Group (NYSE:RGC)

Morgan Stanley reduced its position in shares of Regal Entertainment Group (NYSE:RGC) by 45.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,029 shares of the company’s stock after selling 410,890 shares during the period. Morgan Stanley owned 0.31% of Regal Entertainment Group worth $10,930,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Regal Entertainment Group by 10.7% in the first quarter. Vanguard Group Inc. now owns 12,828,823 shares of the company’s stock worth $289,675,000 after buying an additional 1,241,331 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Regal Entertainment Group by 24.4% in the first quarter. Alliancebernstein L.P. now owns 9,044,942 shares of the company’s stock worth $204,235,000 after buying an additional 1,774,446 shares during the last quarter. Hamlin Capital Management LLC raised its stake in shares of Regal Entertainment Group by 16.6% in the first quarter. Hamlin Capital Management LLC now owns 3,491,051 shares of the company’s stock worth $78,828,000 after buying an additional 496,075 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Regal Entertainment Group by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,070,005 shares of the company’s stock worth $46,741,000 after buying an additional 116,607 shares during the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Regal Entertainment Group by 4.5% in the first quarter. GW&K Investment Management LLC now owns 1,638,208 shares of the company’s stock worth $36,991,000 after buying an additional 69,856 shares during the last quarter. Institutional investors and hedge funds own 77.19% of the company’s stock.

Shares of Regal Entertainment Group (NYSE RGC) traded down 7.69% on Friday, reaching $15.12. The company’s stock had a trading volume of 5,387,257 shares. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 14.04 and a beta of 0.92. The company’s 50 day moving average is $18.78 and its 200-day moving average is $20.85. Regal Entertainment Group has a 1-year low of $15.09 and a 1-year high of $24.79.

Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. Regal Entertainment Group had a net margin of 5.24% and a negative return on equity of 20.42%. The business had revenue of $764.20 million during the quarter, compared to analyst estimates of $764.15 million. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that Regal Entertainment Group will post $1.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.82%. Regal Entertainment Group’s payout ratio is 82.24%.

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A number of equities research analysts have commented on RGC shares. Morgan Stanley decreased their price objective on Regal Entertainment Group from $22.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, July 6th. Moffett Nathanson lowered Regal Entertainment Group from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $21.00 to $17.00 in a research report on Monday, June 12th. Credit Suisse Group decreased their price objective on Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating for the company in a research report on Friday, June 23rd. Royal Bank Of Canada decreased their price objective on Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, June 22nd. Finally, Loop Capital upgraded Regal Entertainment Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $25.00 in a research report on Tuesday, May 16th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $24.57.

Regal Entertainment Group Company 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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