Boston Advisors LLC cut its stake in shares of Marcus Corp. (NYSE:MCS) by 28.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,535 shares of the company’s stock after selling 6,645 shares during the period. Boston Advisors LLC’s holdings in Marcus Corp. were worth $349,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its position in Marcus Corp. by 114.1% in the second quarter. BNP Paribas Arbitrage SA now owns 5,818 shares of the company’s stock valued at $123,000 after buying an additional 3,100 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in Marcus Corp. during the first quarter worth $174,000. Bank of Montreal Can bought a new position in Marcus Corp. during the second quarter worth $251,000. Spark Investment Management LLC bought a new position in Marcus Corp. during the first quarter worth $341,000. Finally, MSI Financial Services Inc boosted its position in Marcus Corp. by 340.5% in the second quarter. MSI Financial Services Inc now owns 21,138 shares of the company’s stock worth $446,000 after buying an additional 16,339 shares in the last quarter. Hedge funds and other institutional investors own 55.93% of the company’s stock.
Shares of Marcus Corp. (NYSE:MCS) traded down 0.36% during midday trading on Friday, hitting $25.15. 33,452 shares of the stock were exchanged. Marcus Corp. has a 12-month low of $17.44 and a 12-month high of $25.49. The firm has a 50-day moving average price of $24.00 and a 200 day moving average price of $21.31. The firm has a market cap of $693.11 million, a PE ratio of 16.35 and a beta of 0.66.
Marcus Corp. (NYSE:MCS) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Marcus Corp. had a net margin of 6.55% and a return on equity of 9.45%. The firm had revenue of $134 million for the quarter, compared to analyst estimates of $129.43 million. During the same period last year, the firm posted $0.32 EPS. Marcus Corp.’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts predict that Marcus Corp. will post $1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were given a dividend of $0.1125 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.45 annualized dividend and a dividend yield of 1.79%. Marcus Corp.’s payout ratio is currently 36.00%.
A number of research firms have weighed in on MCS. Zacks Investment Research cut shares of Marcus Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. Benchmark Co. upped their price objective on shares of Marcus Corp. from $26.11 to $28.19 and gave the stock a “buy” rating in a research report on Monday, September 26th. Finally, B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Marcus Corp. in a research report on Tuesday, August 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $29.30.
In other Marcus Corp. news, CFO Douglas A. Neis sold 2,500 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $22.97, for a total transaction of $57,425.00. Following the sale, the chief financial officer now directly owns 51,002 shares in the company, valued at approximately $1,171,515.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas F. Kissinger sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $23.05, for a total transaction of $34,575.00. Following the sale, the vice president now owns 47,254 shares in the company, valued at $1,089,204.70. The disclosure for this sale can be found here. Company insiders own 33.75% of the company’s stock.
Marcus Corp. Company Profile
The Marcus Corporation owns and operates movie theatres, and hotels and resorts. The Company operates through two business segments: movie theatres, and hotels and resorts. Its theatre operations include around 55 movie theatres with around 681 screens throughout Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, including two movie theatres with 11 screens in Wisconsin and Nebraska owned by third parties and managed by it.