Cornerstone Capital Management Holdings LLC. Has $5.96 Million Stake in Regal Entertainment Group (NYSE:RGC)

Cornerstone Capital Management Holdings LLC. decreased its holdings in shares of Regal Entertainment Group (NYSE:RGC) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,489 shares of the company’s stock after selling 92,739 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.19% of Regal Entertainment Group worth $5,963,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Regal Entertainment Group by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock worth $18,673,000 after acquiring an additional 49,896 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Regal Entertainment Group by 22.1% in the 1st quarter. Pacer Advisors Inc. now owns 9,372 shares of the company’s stock worth $212,000 after buying an additional 1,695 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Regal Entertainment Group in the 1st quarter worth approximately $1,856,000. Asset Management One Co. Ltd. raised its holdings in shares of Regal Entertainment Group by 85.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 149,421 shares of the company’s stock worth $3,380,000 after buying an additional 68,842 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Regal Entertainment Group by 37.5% in the 1st quarter. OppenheimerFunds Inc. now owns 398,165 shares of the company’s stock worth $8,991,000 after buying an additional 108,525 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

A number of equities research analysts recently weighed in on RGC shares. Credit Suisse Group dropped their price target on Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, June 23rd. MKM Partners raised Regal Entertainment Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target for the company in a report on Thursday, October 5th. Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a report on Thursday, July 27th. Finally, Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.92.

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In related news, CFO David Ownby acquired 7,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at $3,223,204.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen A. Kaplan acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The disclosure for this purchase can be found here. In the last quarter, insiders bought 242,500 shares of company stock worth $641,000. Insiders own 2.00% of the company’s stock.

Shares of Regal Entertainment Group (RGC) traded down 1.63% during mid-day trading on Friday, hitting $16.29. The stock had a trading volume of 2,023,987 shares. The firm’s 50 day moving average price is $16.09 and its 200 day moving average price is $18.89. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79. The company has a market cap of $2.55 billion, a P/E ratio of 15.13 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $764.20 million during 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 quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Analysts predict that Regal Entertainment Group will post $0.96

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Regal Entertainment Group by 6.4% in the 1st quarter. Bank of New York Mellon Corp now owns 826,903 shares of the company’s stock worth $18,673,000 after acquiring an additional 49,896 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Regal Entertainment Group by 22.1% in the 1st quarter. Pacer Advisors Inc. now owns 9,372 shares of the company’s stock worth $212,000 after buying an additional 1,695 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Regal Entertainment Group in the 1st quarter worth approximately $1,856,000. Asset Management One Co. Ltd. raised its holdings in shares of Regal Entertainment Group by 85.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 149,421 shares of the company’s stock worth $3,380,000 after buying an additional 68,842 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Regal Entertainment Group by 37.5% in the 1st quarter. OppenheimerFunds Inc. now owns 398,165 shares of the company’s stock worth $8,991,000 after buying an additional 108,525 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

A number of equities research analysts recently weighed in on RGC shares. Credit Suisse Group dropped their price target on Regal Entertainment Group from $19.00 to $17.00 and set an “underperform” rating for the company in a report on Friday, June 23rd. MKM Partners raised Regal Entertainment Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $22.00 in a report on Tuesday, September 5th. They noted that the move was a valuation call. Morgan Stanley raised Regal Entertainment Group from an “underweight” rating to an “equal weight” rating and set a $17.00 price target for the company in a report on Thursday, October 5th. Piper Jaffray Companies set a $19.00 price target on Regal Entertainment Group and gave the company a “hold” rating in a report on Thursday, July 27th. Finally, Wedbush reissued an “outperform” rating and issued a $23.00 target price on shares of Regal Entertainment Group in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.92.

WARNING: This piece of content was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://ledgergazette.com/2017/10/21/cornerstone-capital-management-holdings-llc-cuts-holdings-in-regal-entertainment-group-rgc.html.

In related news, CFO David Ownby acquired 7,500 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $14.04 per share, for a total transaction of $105,300.00. Following the completion of the transaction, the chief financial officer now directly owns 229,573 shares in the company, valued at $3,223,204.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen A. Kaplan acquired 10,000 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were bought at an average price of $14.87 per share, for a total transaction of $148,700.00. Following the transaction, the director now owns 155,572 shares of the company’s stock, valued at $2,313,355.64. The disclosure for this purchase can be found here. In the last quarter, insiders bought 242,500 shares of company stock worth $641,000. Insiders own 2.00% of the company’s stock.

Shares of Regal Entertainment Group (RGC) traded down 1.63% during mid-day trading on Friday, hitting $16.29. The stock had a trading volume of 2,023,987 shares. The firm’s 50 day moving average price is $16.09 and its 200 day moving average price is $18.89. Regal Entertainment Group has a 1-year low of $13.90 and a 1-year high of $24.79. The company has a market cap of $2.55 billion, a P/E ratio of 15.13 and a beta of 0.97.

Regal Entertainment Group (NYSE:RGC) last issued its earnings results on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $764.20 million during 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 quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Analysts predict that Regal Entertainment Group will post $0.96 earnings per share for the current fiscal year.

Regal Entertainment Group announced that its Board of Directors has approved a share buyback plan on Thursday, August 31st that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.

Institutional Ownership by Quarter for Regal Entertainment Group (NYSE:RGC)

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