Regal Entertainment Group (NYSE:RGC) Director Purchases $369,000.00 in Stock

Regal Entertainment Group (NYSE:RGC) Director Thomas D. Bell, Jr. purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $14.76 per share, with a total value of $369,000.00. Following the completion of the transaction, the director now owns 126,939 shares in the company, valued at approximately $1,873,619.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Regal Entertainment Group (RGC) traded up 1.23% during midday trading on Wednesday, hitting $15.62. 730,179 shares of the company traded hands. Regal Entertainment Group has a 12-month low of $13.90 and a 12-month high of $24.79. The stock has a market capitalization of $2.44 billion, a P/E ratio of 14.50 and a beta of 0.96. The stock’s 50-day moving average is $16.77 and its 200 day moving average is $20.08.

Regal Entertainment Group (NYSE:RGC) last released its earnings results on Wednesday, July 26th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The business had revenue of $764.20 million for the quarter, compared to the consensus estimate of $764.15 million. Regal Entertainment Group had a negative return on equity of 20.42% and a net margin of 5.24%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, analysts expect that Regal Entertainment Group will post $1.01 earnings per share for the current year.

Regal Entertainment Group announced that its Board of Directors has initiated a share buyback plan on Thursday, August 31st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Thursday, August 31st. Regal Entertainment Group’s dividend payout ratio is currently 82.24%.

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A number of equities analysts have commented on RGC shares. Royal Bank Of Canada cut their price objective on shares of Regal Entertainment Group from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, June 22nd. Loop Capital upgraded shares of Regal Entertainment Group from a “hold” rating to a “buy” rating and upped their target price for the company from $23.00 to $25.00 in a research note on Tuesday, May 16th. B. Riley restated a “buy” rating and issued a $26.00 target price on shares of Regal Entertainment Group in a research note on Tuesday, July 18th. Piper Jaffray Companies set a $19.00 price objective on shares of Regal Entertainment Group and gave the stock a “hold” rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered shares of Regal Entertainment Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Regal Entertainment Group presently has an average rating of “Hold” and a consensus price target of $24.43.

A number of institutional investors have recently made changes to their positions in RGC. The Manufacturers Life Insurance Company raised its stake in Regal Entertainment Group by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,871 shares of the company’s stock valued at $100,000 after acquiring an additional 373 shares during the period. IFP Advisors Inc raised its stake in Regal Entertainment Group by 164.3% in the 2nd quarter. IFP Advisors Inc now owns 5,419 shares of the company’s stock valued at $111,000 after acquiring an additional 3,369 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in Regal Entertainment Group by 169.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,519 shares of the company’s stock valued at $113,000 after acquiring an additional 3,471 shares during the period. Farmers National Bank raised its stake in Regal Entertainment Group by 901.2% in the 2nd quarter. Farmers National Bank now owns 81,096 shares of the company’s stock valued at $135,000 after acquiring an additional 72,996 shares during the period. Finally, Parallel Advisors LLC raised its stake in Regal Entertainment Group by 2.1% in the 1st quarter. Parallel Advisors LLC now owns 7,045 shares of the company’s stock valued at $153,000 after acquiring an additional 145 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

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.

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