Lazard Asset Management LLC Acquires Shares of 49,140 Marcus Corporation (The) $MCS

Key Points

• Lazard Asset Management acquired 49,140 Marcus shares during the first quarter, worth approximately $844,000 and representing a 0.16% stake. Institutional investors and hedge funds collectively own 81.57% of the company.
• Marcus reported quarterly EPS of $0.51, beating the $0.35 consensus estimate, while revenue of $231.74 million also exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $32.25.
• Marcus increased its quarterly dividend to $0.09 per share, or $0.36 annually, producing a 1.2% yield. Shares recently opened at $30.77, near their 52-week high of $32.42.

Lazard Asset Management LLC acquired a new position in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,140 shares of the company's stock, valued at approximately $844,000. Lazard Asset Management LLC owned 0.16% of Marcus as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Marcus by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,849 shares of the company's stock valued at $231,000 after buying an additional 624 shares during the period. Russell Investments Group Ltd. raised its position in shares of Marcus by 29.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,942 shares of the company's stock valued at $46,000 after buying an additional 678 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Marcus by 60.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,494 shares of the company's stock worth $42,000 after acquiring an additional 937 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Marcus by 0.5% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 204,210 shares of the company's stock worth $3,167,000 after acquiring an additional 1,028 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Marcus by 1.2% during the 3rd quarter. Bank of America Corp DE now owns 102,695 shares of the company's stock worth $1,593,000 after acquiring an additional 1,205 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.

Marcus Trading Down 1.1%

Shares of Marcus stock opened at $30.77 on Thursday. The firm's 50 day moving average is $23.24 and its 200 day moving average is $19.24. The firm has a market capitalization of $945.56 million, a PE ratio of 43.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51. Marcus Corporation has a 1 year low of $12.85 and a 1 year high of $32.42. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.34.

Marcus (NYSE:MCS - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. Marcus had a net margin of 2.87% and a return on equity of 2.67%. The business had revenue of $231.74 million during the quarter, compared to the consensus estimate of $217.72 million. Equities research analysts forecast that Marcus Corporation will post 0.81 earnings per share for the current fiscal year.

Marcus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.2%. This is a boost from Marcus's previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 25th. Marcus's dividend payout ratio (DPR) is currently 45.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MCS shares. B. Riley Financial cut shares of Marcus from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $27.00 to $29.00 in a research note on Friday, July 31st. Zacks Research raised Marcus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Wedbush lifted their price target on Marcus from $23.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Benchmark boosted their price target on Marcus from $22.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Barrington Research set a $33.00 price objective on Marcus in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.25.

About Marcus

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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