Gabelli Funds LLC Purchases Shares of 906,972 Regal Entertainment Group (RGC)

Gabelli Funds LLC purchased a new stake in Regal Entertainment Group (NYSE:RGC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 906,972 shares of the company’s stock, valued at approximately $20,869,000.

Several other hedge funds also recently modified their holdings of RGC. Principal Financial Group Inc. boosted its stake in shares of Regal Entertainment Group by 20.2% in the second quarter. Principal Financial Group Inc. now owns 22,726 shares of the company’s stock valued at $465,000 after buying an additional 3,824 shares during the period. BlackRock Inc. boosted its stake in shares of Regal Entertainment Group by 20.7% in the second quarter. BlackRock Inc. now owns 4,659,346 shares of the company’s stock valued at $95,330,000 after buying an additional 797,847 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Regal Entertainment Group by 7.7% in the second quarter. UBS Asset Management Americas Inc. now owns 93,268 shares of the company’s stock valued at $1,908,000 after buying an additional 6,654 shares during the period. Northern Trust Corp boosted its stake in shares of Regal Entertainment Group by 15.6% in the second quarter. Northern Trust Corp now owns 937,994 shares of the company’s stock valued at $19,191,000 after buying an additional 126,247 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Regal Entertainment Group by 3.0% in the second quarter. Vanguard Group Inc. now owns 13,209,774 shares of the company’s stock valued at $270,273,000 after buying an additional 380,951 shares during the period. Institutional investors and hedge funds own 84.30% of the company’s stock.

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

Shares of Regal Entertainment Group (NYSE RGC) opened at $23.10 on Thursday. The company has a debt-to-equity ratio of -2.84, a quick ratio of 0.78 and a current ratio of 0.84. Regal Entertainment Group has a 12 month low of $13.90 and a 12 month high of $23.56. The firm has a market capitalization of $3,623.91, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, February 8th. Regal Entertainment Group’s payout ratio is 101.15%.

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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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