Bastion Asset Management Inc. Reduces Stock Holdings in Marcus Corporation (The) $MCS

Key Points

• Bastion Asset Management cut its stake in Marcus Corporation by 35.1% in the first quarter, selling 131,480 shares and leaving it with 243,132 shares valued at about $3.95 million.
• Other institutional investors were mixed on the stock, with several increasing holdings while hedge funds and institutions still controlled a large 81.57% of Marcus shares.
• Marcus reported a narrower-than-expected quarterly loss and better-than-expected revenue, while analysts remain generally positive with an average Buy rating and a consensus price target of $24.25.

Bastion Asset Management Inc. lowered its stake in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) by 35.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,132 shares of the company's stock after selling 131,480 shares during the quarter. Bastion Asset Management Inc. owned approximately 0.79% of Marcus worth $3,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Marcus by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,849 shares of the company's stock worth $231,000 after acquiring an additional 624 shares in the last quarter. Millennium Management LLC increased its position in shares of Marcus by 11.1% during the first quarter. Millennium Management LLC now owns 392,634 shares of the company's stock worth $6,553,000 after purchasing an additional 39,118 shares in the last quarter. Empowered Funds LLC increased its position in shares of Marcus by 2.1% during the first quarter. Empowered Funds LLC now owns 172,745 shares of the company's stock worth $2,883,000 after purchasing an additional 3,562 shares in the last quarter. Creative Planning lifted its holdings in shares of Marcus by 50.6% in the 2nd quarter. Creative Planning now owns 15,270 shares of the company's stock valued at $257,000 after purchasing an additional 5,129 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Marcus by 3.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 291,082 shares of the company's stock valued at $4,908,000 after purchasing an additional 8,898 shares during the last quarter. Hedge funds and other institutional investors own 81.57% of the company's stock.

Marcus Stock Performance

Shares of MCS stock opened at $22.54 on Friday. The stock's 50-day moving average price is $20.91 and its 200 day moving average price is $18.17. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $692.50 million, a PE ratio of 52.41, a price-to-earnings-growth ratio of 2.81 and a beta of 0.51. Marcus Corporation has a 52-week low of $12.85 and a 52-week high of $24.89.

Marcus (NYSE:MCS - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $0.03. The company had revenue of $154.40 million during the quarter, compared to analysts' expectations of $148.78 million. Marcus had a return on equity of 0.79% and a net margin of 1.85%. As a group, equities research analysts forecast that Marcus Corporation will post 0.53 EPS for the current year.

Marcus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, June 1st. Marcus's dividend payout ratio (DPR) is 74.42%.

Analysts Set New Price Targets

Several research analysts have commented on MCS shares. Wedbush lifted their price target on Marcus from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Barrington Research restated an "outperform" rating and set a $25.00 target price on shares of Marcus in a research report on Monday, May 4th. Zacks Research raised shares of Marcus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Weiss Ratings cut shares of Marcus from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. Finally, B. Riley Financial upped their price target on shares of Marcus from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Marcus has an average rating of "Buy" and a consensus price target of $24.25.

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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