Trade Report: Today, Camelot Portfolios LLC sells partial stakes of Regal Entertainment Group (RGC)

Today, Camelot Portfolios LLC sells partial stakes of Regal Entertainment Group (RGC)

Camelot Portfolios LLC lowered its stake in Regal Entertainment Group (NYSE:RGC) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 22,326 shares of the company’s stock after selling 543 shares during the period. Camelot Portfolios LLC’s holdings in Regal Entertainment Group were worth $486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Societe Generale bought a new position in shares of Regal Entertainment Group during the second quarter worth about $103,000. Advisor Group Inc. bought a new position in shares of Regal Entertainment Group during the second quarter worth about $103,000. BlueMountain Capital Management LLC bought a new position in shares of Regal Entertainment Group during the second quarter worth about $125,000. Pacer Advisors Inc. bought a new position in shares of Regal Entertainment Group during the second quarter worth about $140,000. Finally, First Manhattan Co. increased its position in shares of Regal Entertainment Group by 138.3% in the second quarter. First Manhattan Co. now owns 7,150 shares of the company’s stock worth $157,000 after buying an additional 4,150 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

Regal Entertainment Group (NYSE:RGC) opened at 23.54 on Friday. Regal Entertainment Group has a 12-month low of $16.50 and a 12-month high of $24.79. The company has a 50-day moving average price of $22.67 and a 200-day moving average price of $21.83. The firm has a market cap of $3.67 billion, a PE ratio of 21.56 and a beta of 0.92.

Regal Entertainment Group (NYSE:RGC) last posted its earnings results on Thursday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Regal Entertainment Group had a negative return on equity of 20.69% and a net margin of 5.31%. The firm had revenue of $811.50 million for the quarter, compared to analysts’ expectations of $787.99 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Regal Entertainment Group will post $1.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, December 5th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.88 annualized dividend and a yield of 3.74%. Regal Entertainment Group’s payout ratio is 80.73%.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Regal Entertainment Group from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, November 16th. B. Riley restated a “buy” rating and set a $24.75 target price on shares of Regal Entertainment Group in a research note on Saturday, November 5th. Goldman Sachs Group Inc. upgraded Regal Entertainment Group from a “neutral” rating to a “conviction-buy” rating and set a $47.00 target price on the stock in a research note on Tuesday, November 1st. Wedbush restated an “outperform” rating and set a $25.00 target price on shares of Regal Entertainment Group in a research note on Monday, October 24th. Finally, Loop Capital restated a “hold” rating and set a $22.00 target price on shares of Regal Entertainment Group in a research note on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Regal Entertainment Group has an average rating of “Hold” and a consensus price target of $24.18.

In related news, major shareholder Philip F. Anschutz sold 13,000,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $22.95, for a total value of $298,350,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gregory W. Dunn sold 30,765 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $21.75, for a total value of $669,138.75. Following the completion of the sale, the insider now directly owns 74,151 shares in the company, valued at $1,612,784.25. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Regal Entertainment Group Company Profile

Regal Entertainment Group (Regal) operates a theatre circuit in the United States. The Company operates in the segment of theatre exhibition operations. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.

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