Regal Entertainment Group (NYSE:RGC) major shareholder Philip F. Anschutz sold 13,000,000 shares of the company’s stock in a transaction that occurred 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 the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Regal Entertainment Group (NYSE:RGC) opened at 23.74 on Monday. The company has a market cap of $3.70 billion, a P/E ratio of 21.74 and a beta of 0.92. The stock’s 50 day moving average price is $22.74 and its 200-day moving average price is $21.85. Regal Entertainment Group has a 52-week low of $16.50 and a 52-week high of $24.79.
Regal Entertainment Group (NYSE:RGC) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The firm had revenue of $811.50 million for the quarter, compared to analyst estimates of $787.99 million. Regal Entertainment Group had a negative return on equity of 20.69% and a net margin of 5.31%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 earnings per share. On average, equities analysts predict that Regal Entertainment Group will post $1.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, December 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, December 1st. Regal Entertainment Group’s dividend payout ratio is presently 80.73%.
Several research firms recently weighed in on RGC. B. Riley restated a “buy” rating and set a $24.75 price target on shares of Regal Entertainment Group in a report on Saturday, November 5th. Wedbush restated an “outperform” rating and set a $25.00 price target on shares of Regal Entertainment Group in a report on Wednesday, September 21st. Loop Capital began coverage on Regal Entertainment Group in a report on Tuesday, August 23rd. They set a “hold” rating and a $22.00 price target on the stock. Zacks Investment Research lowered Regal Entertainment Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, Goldman Sachs Group Inc. upgraded Regal Entertainment Group from a “neutral” rating to a “conviction-buy” rating and set a $47.00 price target on the stock in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $24.66.
Several hedge funds have recently modified their holdings of the company. Societe Generale purchased a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. Advisor Group Inc. purchased a new stake in shares of Regal Entertainment Group during the second quarter worth about $103,000. BlueMountain Capital Management LLC purchased a new stake in shares of Regal Entertainment Group during the second quarter worth about $125,000. Pacer Advisors Inc. purchased a new stake in shares of Regal Entertainment Group during the second quarter worth about $140,000. Finally, First Manhattan Co. raised its stake 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. 62.68% of the stock is currently owned by hedge funds and other institutional investors.
Regal Entertainment Group Company Profile