Regal Entertainment Group (RGC) Shares Bought by Advisors Capital Management LLC
Advisors Capital Management LLC lifted its holdings in shares of Regal Entertainment Group (NYSE:RGC) by 11.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 386,379 shares of the company’s stock after acquiring an additional 39,784 shares during the period. Advisors Capital Management LLC’s holdings in Regal Entertainment Group were worth $8,891,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Regal Entertainment Group by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock worth $100,000 after acquiring an additional 373 shares in the last quarter. Tortoise Investment Management LLC acquired a new stake in shares of Regal Entertainment Group during the 3rd quarter worth about $117,000. State of Alaska Department of Revenue acquired a new stake in shares of Regal Entertainment Group during the 4th quarter worth about $176,000. IFP Advisors Inc raised its position in shares of Regal Entertainment Group by 60.8% during the 3rd quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock worth $139,000 after acquiring an additional 3,294 shares in the last quarter. Finally, Spectrum Management Group Inc. acquired a new stake in shares of Regal Entertainment Group during the 3rd quarter worth about $141,000. 85.09% of the stock is currently owned by institutional investors and hedge funds.
RGC has been the topic of several research analyst reports. Zacks Investment Research raised Regal Entertainment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. B. Riley set a $24.00 target price on Regal Entertainment Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Wedbush set a $23.00 target price on Regal Entertainment Group and gave the stock a “hold” rating in a research report on Monday, January 8th. Benchmark raised their target price on Regal Entertainment Group from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Finally, Hilliard Lyons lowered Regal Entertainment Group from a “long-term buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.23.
Regal Entertainment Group (NYSE:RGC) last released its quarterly earnings results on Tuesday, October 24th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $701.66 million. Regal Entertainment Group had a negative return on equity of 16.36% and a net margin of 4.41%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. sell-side analysts predict that Regal Entertainment Group will post 0.93 earnings per share for the current fiscal year.
About Regal Entertainment Group
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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