November 23, 2016 - By Clifton Ray
Regal Entertainment Group’s major shareholder Philip Anschutz unloaded 13,000,000 shares of the Pinksheet-listed company in a stock market transaction dated 23-11-2016. The reported shares were sold at an average price per share of $23.0, for an aggregate trade of $298,350,000. The probability that this sell remains a secret are very little due to the enormous amount of money involved. Now, Philip Anschutz owns 24.00 million shares which are equivalent to around 15.41% of the company’s market capitalization. Published 23-11-2016, you can read more about the deal by opening the following legal Form 4 here.
Out of 12 analysts covering Regal Entertainment Group (NYSE:RGC), 4 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 33% are positive. $32 is the highest target while $18 is the lowest. The $20.40 average target is -13.52% below today’s ($23.59) stock price. Regal Entertainment Group has been the topic of 27 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Regal Entertainment Group (NYSE:RGC) earned “Neutral” rating by M Partners on Wednesday, October 21. The firm has “Underweight” rating by Morgan Stanley given on Thursday, October 15. The stock has “Hold” rating given by Topeka Capital Markets on Monday, July 27. As per Friday, April 29, the company rating was maintained by Topeka Capital Markets. Credit Suisse initiated it with “Outperform” rating and $32 target price in Friday, February 5 report. Credit Suisse maintained the shares of RGC in a report on Tuesday, March 15 with “Neutral” rating. The rating was upgraded by RBC Capital Markets to “Outperform” on Wednesday, June 15. The firm has “Buy” rating given on Monday, September 28 by B. Riley & Co. FBR Capital maintained Regal Entertainment Group (NYSE:RGC) rating on Friday, August 21. FBR Capital has “Market Perform” rating and $20 price target. The stock of Regal Entertainment Group (NYSE:RGC) earned “Hold” rating by Loop Capital on Wednesday, August 24.
Insitutional Activity: The institutional sentiment decreased to 1.07 in Q2 2016. Its down 0.24, from 1.31 in 2016Q1. The ratio dropped, as 28 funds sold all Regal Entertainment Group shares owned while 70 reduced positions. 34 funds bought stakes while 94 increased positions. They now own 98.53 million shares or 10.48% more from 89.19 million shares in 2016Q1.
Gateway Investment Advisers owns 32,404 shares or 0.01% of their US portfolio. Atlantic Tru Limited Liability Company has 111,104 shares for 0.02% of their US portfolio. Dekabank Deutsche Girozentrale holds 26,016 shares or 0.01% of its portfolio. The Massachusetts-based Commonwealth Equity Svcs has invested 0% in Regal Entertainment Group (NYSE:RGC). Raymond James Associate has 3.32M shares for 0.23% of their US portfolio. Sei has 29,829 shares for 0% of their US portfolio. Hl Services Limited Com, a Kentucky-based fund reported 83,525 shares. West Oak has 1,417 shares for 0% of their US portfolio. Amer National Insurance Co Tx has invested 0.23% of its portfolio in Regal Entertainment Group (NYSE:RGC). Great West Life Assurance Com Can has 10,750 shares for 0% of their US portfolio. Incorporated holds 0% or 2,505 shares in its portfolio. Teachers Incorporated last reported 339,068 shares in the company. Geode Management Ltd holds 436,629 shares or 0.01% of its portfolio. Goldman Sachs Grp, a New York-based fund reported 544,834 shares. Mizuho Asset Management Coltd, a Japan-based fund reported 81,379 shares.
Insider Transactions: Since June 15, 2016, the stock had 0 insider purchases, and 3 sales for $281.98 million net activity. Another trade for 25,000 shares valued at $507,000 was made by DUNN GREGORY W on Wednesday, June 15. The insider ANSCHUTZ PHILIP F sold $280.80 million.
About 615,540 shares traded hands. Regal Entertainment Group (NYSE:RGC) has risen 14.67% since April 21, 2016 and is uptrending. It has outperformed by 9.34% the S&P500.
Regal Entertainment Group operates a theatre circuit in the United States. The company has a market cap of $3.73 billion. The Firm operates in the segment of theatre exhibition operations. It has a 21.56 P/E ratio. It develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States.
According to Zacks Investment Research, “Regal Entertainment Group is a leading motion picture exhibitor operating the largest theatre circuit in the United States. The Company’s nationwide theatre circuit is comprised of Regal Cinemas Corporation, United Artists Theatre Company and Edwards Theatres, Inc.”
Analysts await Regal Entertainment Group (NYSE:RGC) to report earnings on February, 14. They expect $0.27 earnings per share, down 25.00% or $0.09 from last year’s $0.36 per share. RGC’s profit will be $42.69M for 21.84 P/E if the $0.27 EPS becomes a reality. After $0.29 actual earnings per share reported by Regal Entertainment Group for the previous quarter, Wall Street now forecasts -6.90% negative EPS growth.
More important recent Regal Entertainment Group (NYSE:RGC) news were published by: Businesswire.com which released: “Regal Entertainment Group Announces Sale of Class A Common Stock By The ..” on November 17, 2016, also Prnewswire.com published article titled: “On Cyber Monday, Get the Sweetest Deal of the Day from Regal Cinemas”, Reuters.com published: “BRIEF-Regal Entertainment Group announces sale of class A common stock” on November 17, 2016. More interesting news about Regal Entertainment Group (NYSE:RGC) was released by: Prnewswire.com and their article: “See Air Force One on Election Night at Regal Cinemas” with publication date: November 04, 2016.
Regal Entertainment Group (Regal), incorporated on March 6, 2002, operates a theatre circuit in the United States. The Firm operates in the segment of theatre exhibition operations. The Firm develops, acquires and operates multi-screen theatres in mid-sized metropolitan markets and suburban growth areas of metropolitan markets throughout the United States. The Company’s theatre circuit consists of approximately 7,360 screens in over 570 theatres in approximately 40 states along with Guam, Saipan, American Samoa and the District of Columbia. It operates multi-screen theatres and has approximately 12.9 screens per location. The Firm is the parent firm of Regal Entertainment Holdings, Inc. (REH), which is the parent firm of Regal Cinemas Corporation (Regal Cinemas) and its subsidiaries. Regal Cinemas’ subsidiaries include Regal Cinemas, Inc. (RCI) and its subsidiaries, which include Edwards Theatres, Inc. (Edwards), Regal CineMedia Corporation (RCM) and United Artists Theatre Company (United Artists).
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By Clifton Ray