Levin Capital Strategies L.P. acquired a new stake in shares of Regal Entertainment Group (NYSE:RGC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,757 shares of the company’s stock, valued at approximately $616,000.
Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in Regal Entertainment Group by 8.3% during the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Regal Entertainment Group by 68.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,202 shares of the company’s stock valued at $143,000 after acquiring an additional 2,524 shares in the last quarter. Tortoise Investment Management LLC bought a new position in Regal Entertainment Group during the third quarter valued at approximately $117,000. State of Alaska Department of Revenue bought a new position in shares of Regal Entertainment Group in the fourth quarter valued at approximately $176,000. Finally, IFP Advisors Inc raised its position in shares of Regal Entertainment Group by 60.8% in the third quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock valued at $139,000 after purchasing an additional 3,294 shares during the period. 82.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on RGC. Zacks Investment Research raised shares of Regal Entertainment Group from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Benchmark lifted their price target on shares of Regal Entertainment Group from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. B. Riley reissued a “buy” rating and issued a $24.75 price target on shares of Regal Entertainment Group in a research report on Wednesday, November 29th. Piper Jaffray Companies set a $23.00 price target on shares of Regal Entertainment Group and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, MKM Partners lowered shares of Regal Entertainment Group from a “buy” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Regal Entertainment Group presently has a consensus rating of “Hold” and a consensus price target of $22.23.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Saturday, February 17th will be paid a $0.22 dividend. The ex-dividend date is Thursday, February 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.84%. Regal Entertainment Group’s payout ratio is 101.15%.
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Regal Entertainment Group 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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