Bastion Asset Management Inc. Has $5.72 Million Stake in Marcus Corporation (The) $MCS

Key Points

• Bastion Asset Management boosted its stake in Marcus Corporation by 70.1% in the fourth quarter, ending with 374,612 shares worth about $5.72 million. The stock now makes up about 3.2% of Bastion’s portfolio.
• Several other institutional investors also increased their positions, and 81.57% of Marcus shares are held by institutions and hedge funds. Insider selling was also notable, with executives selling 32,708 shares last quarter.
• Marcus reported quarterly earnings of ($0.51) per share, beating estimates, on revenue of $154.4 million. Analysts currently have a Moderate Buy consensus with a price target of $23.33, while the stock recently traded around $17.78.

Bastion Asset Management Inc. raised its holdings in Marcus Corporation (The) (NYSE:MCS - Free Report) by 70.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 374,612 shares of the company's stock after acquiring an additional 154,439 shares during the period. Marcus comprises about 3.2% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 15th largest holding. Bastion Asset Management Inc. owned about 1.22% of Marcus worth $5,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Navalign LLC acquired a new position in Marcus in the fourth quarter valued at about $33,000. Russell Investments Group Ltd. raised its stake in shares of Marcus by 550.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,264 shares of the company's stock valued at $35,000 after purchasing an additional 1,916 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Marcus by 60.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,494 shares of the company's stock valued at $42,000 after purchasing an additional 937 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Marcus by 656.0% in the 4th quarter. State of Alaska Department of Revenue now owns 5,761 shares of the company's stock valued at $88,000 after purchasing an additional 4,999 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Marcus in the 3rd quarter valued at about $173,000. 81.57% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Marcus

In related news, VP Thomas F. Kissinger sold 25,000 shares of Marcus stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $17.32, for a total transaction of $433,000.00. Following the completion of the transaction, the vice president owned 199,700 shares in the company, valued at approximately $3,458,804. This trade represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Reade Evans sold 7,671 shares of Marcus stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $19.04, for a total value of $146,055.84. Following the transaction, the insider owned 45,801 shares of the company's stock, valued at $872,051.04. The trade was a 14.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,708 shares of company stock valued at $579,646 in the last quarter. 16.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. B. Riley Financial reissued a "buy" rating on shares of Marcus in a research note on Friday, April 17th. Weiss Ratings downgraded Marcus from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Barrington Research reissued an "outperform" rating and issued a $25.00 price target on shares of Marcus in a research note on Monday, May 4th. Zacks Research raised Marcus from a "strong sell" rating to a "hold" rating in a research note on Monday, March 23rd. Finally, Wedbush lifted their price target on Marcus from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.33.

Marcus Trading Down 0.3%

Marcus stock opened at $17.78 on Wednesday. Marcus Corporation has a 52 week low of $12.85 and a 52 week high of $20.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $546.23 million, a P/E ratio of 41.34, a PEG ratio of 2.51 and a beta of 0.53. The stock has a 50-day simple moving average of $17.69 and a 200 day simple moving average of $16.35.

Marcus (NYSE:MCS - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, topping analysts' consensus estimates of ($0.54) by $0.03. Marcus had a return on equity of 0.79% and a net margin of 1.85%.The business had revenue of $154.40 million during the quarter, compared to analysts' expectations of $148.78 million. Analysts expect that Marcus Corporation will post 0.47 earnings per share for the current year.

Marcus Company 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. The company also owns and operates full-service hotels and resorts, as well as manages full-service hotels, resorts, and other properties. In addition, it provides hospitality management services, including check-in, housekeeping, and maintenance for a vacation ownership development; and manages condominium hotels under long-term management contracts.

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