Acadian Asset Management LLC Has $1.92 Million Stake in Marcus Corporation (The) $MCS

Key Points

• Acadian Asset Management LLC significantly increased its stake in Marcus Corporation by 492.8% during Q1, owning 115,115 shares after purchasing an additional 95,697 shares.
• Marcus Corporation announced a dividend increase to $0.08 per share, boosting its annualized dividend yield to 2.0%, representing a positive change from the previous $0.07.
• The latest earnings report revealed that Marcus exceeded analysts' expectations, reporting $0.23 EPS against a consensus estimate of $0.19, leading to positive analyst ratings including an average target price of $24.50.

Acadian Asset Management LLC grew its position in Marcus Corporation (The) (NYSE:MCS - Free Report) by 492.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,115 shares of the company's stock after acquiring an additional 95,697 shares during the period. Acadian Asset Management LLC owned about 0.37% of Marcus worth $1,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCS. Vanguard Group Inc. increased its position in Marcus by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 1,500,287 shares of the company's stock worth $25,040,000 after purchasing an additional 59,336 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Marcus in the first quarter worth $745,000. American Century Companies Inc. boosted its holdings in shares of Marcus by 14.7% during the 1st quarter. American Century Companies Inc. now owns 844,953 shares of the company's stock valued at $14,102,000 after buying an additional 108,334 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Marcus by 1.7% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 208,170 shares of the company's stock valued at $3,474,000 after purchasing an additional 3,437 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in Marcus by 63.2% in the 1st quarter. Martingale Asset Management L P now owns 71,446 shares of the company's stock worth $1,192,000 after purchasing an additional 27,678 shares during the period. Institutional investors own 81.57% of the company's stock.

Marcus Trading Down 2.5%

Shares of MCS stock traded down $0.41 on Friday, hitting $15.69. The stock had a trading volume of 419,447 shares, compared to its average volume of 206,967. The firm has a market cap of $491.25 million, a P/E ratio of 34.87, a PEG ratio of 2.95 and a beta of 1.22. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.40. Marcus Corporation has a twelve month low of $14.13 and a twelve month high of $23.16. The company has a fifty day moving average price of $15.92 and a two-hundred day moving average price of $16.53.

Marcus (NYSE:MCS - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $206.04 million during the quarter, compared to the consensus estimate of $192.79 million. Marcus had a net margin of 1.91% and a return on equity of 4.28%. As a group, analysts forecast that Marcus Corporation will post 0.36 earnings per share for the current fiscal year.

Marcus Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, August 25th were paid a dividend of $0.08 per share. This is a boost from Marcus's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 25th. Marcus's payout ratio is 71.11%.

Wall Street Analyst Weigh In

MCS has been the subject of several research analyst reports. Wedbush assumed coverage on Marcus in a research report on Friday, July 18th. They set an "outperform" rating and a $24.00 target price for the company. Zacks Research raised Marcus from a "strong sell" rating to a "hold" rating in a research note on Thursday. Finally, Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of Marcus in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $24.50.

Marcus Profile

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. It operates a family entertainment center and multiscreen motion picture theatres under the Big Screen Bistro, Big Screen Bistro Express, BistroPlex, and Movie Tavern by Marcus brand names.