Cubist Systematic Strategies LLC Acquires New Holdings in Marcus Corporation (The) $MCS

Key Points

• Cubist Systematic Strategies LLC has made a new investment of approximately $1.76 million in Marcus Corporation by acquiring 105,364 shares, representing about 0.33% of the company's stock.
• Marcus Corporation has announced a quarterly dividend of $0.08 per share, increasing from its previous dividend of $0.07, scheduled to be paid on September 15th.
• Financial analysts have mixed ratings for Marcus, with a consensus rating of "Buy" and a target price of $24.50, while Wall Street Zen downgraded the stock from "buy" to "hold".

Cubist Systematic Strategies LLC acquired a new position in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 105,364 shares of the company's stock, valued at approximately $1,759,000. Cubist Systematic Strategies LLC owned about 0.33% of Marcus as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in Marcus by 2,908.9% in the fourth quarter. Lazard Asset Management LLC now owns 2,377 shares of the company's stock worth $51,000 after purchasing an additional 2,298 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Marcus in the first quarter worth about $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Marcus by 38.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,700 shares of the company's stock worth $145,000 after purchasing an additional 2,424 shares during the period. Janus Henderson Group PLC purchased a new stake in Marcus in the fourth quarter worth about $206,000. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Marcus in the fourth quarter worth approximately $226,000. 81.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCS has been the topic of a number of research analyst reports. Barrington Research restated an "outperform" rating and set a $25.00 price objective on shares of Marcus in a research report on Monday, August 4th. B. Riley initiated coverage on shares of Marcus in a research note on Friday, May 16th. They issued a "buy" rating and a $24.00 price objective for the company. Wall Street Zen cut shares of Marcus from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Wedbush began coverage on shares of Marcus in a research report on Friday, July 18th. They set an "outperform" rating and a $24.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $24.50.

Marcus Price Performance

MCS traded up $0.51 during midday trading on Thursday, hitting $15.99. 140,403 shares of the company traded hands, compared to its average volume of 206,753. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $500.49 million, a price-to-earnings ratio of 35.52, a PEG ratio of 2.86 and a beta of 1.22. Marcus Corporation has a 52-week low of $14.13 and a 52-week high of $23.16. The business has a 50 day simple moving average of $16.09 and a two-hundred day simple moving average of $16.69.

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

Marcus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be paid a $0.08 dividend. This is an increase 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 is Monday, August 25th. Marcus's payout ratio is presently 71.11%.

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.