Blue Sky Asset Management LLC Acquires Shares of 55,050 Regal Entertainment Group (RGC)

Blue Sky Asset Management LLC acquired a new stake in Regal Entertainment Group (NYSE:RGC) in the 4th quarter, HoldingsChannel reports. The fund acquired 55,050 shares of the company’s stock, valued at approximately $1,267,000.

Other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of 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 during the last quarter. Tortoise Investment Management LLC bought a new position in shares of Regal Entertainment Group during the third quarter valued at $117,000. State of Alaska Department of Revenue bought a new position in shares of Regal Entertainment Group during the fourth quarter valued at $176,000. Finally, IFP Advisors Inc raised its stake in shares of Regal Entertainment Group by 60.8% during the third quarter. IFP Advisors Inc now owns 8,713 shares of the company’s stock valued at $139,000 after acquiring an additional 3,294 shares during the last quarter. 84.30% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the stock. 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 note on Wednesday, January 3rd. Barrington Research downgraded shares of Regal Entertainment Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. B. Riley downgraded shares of Regal Entertainment Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $24.75 to $23.00 in a research note on Tuesday, January 2nd. Hilliard Lyons downgraded shares of Regal Entertainment Group from a “long-term buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. Finally, Macquarie downgraded shares of Regal Entertainment Group from an “outperform” rating to a “neutral” rating and set a $23.00 target price for the company. in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Regal Entertainment Group currently has an average rating of “Hold” and an average target price of $22.23.

Regal Entertainment Group (NYSE:RGC) opened at $23.08 on Wednesday. Regal Entertainment Group has a 52 week low of $13.90 and a 52 week high of $23.56. The firm has a market cap of $3,620.00, a price-to-earnings ratio of 27.81, a P/E/G ratio of 2.24 and a beta of 1.05. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84.

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About Regal Entertainment Group

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

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