Covalent Partners LLC raised its position in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) by 36.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,000 shares of the company's stock after buying an additional 29,000 shares during the quarter. Marcus accounts for 9.0% of Covalent Partners LLC's portfolio, making the stock its 4th largest position. Covalent Partners LLC owned about 0.34% of Marcus worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in MCS. Lazard Asset Management LLC grew 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 valued at $51,000 after purchasing an additional 2,298 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Marcus during the 1st quarter valued at about $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Marcus by 38.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,700 shares of the company's stock valued at $145,000 after buying an additional 2,424 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Marcus in the 4th quarter valued at approximately $206,000. Finally, Virtus Investment Advisers Inc. bought a new position in Marcus during the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 81.57% of the company's stock.
Marcus Stock Performance
MCS stock traded up $0.13 during midday trading on Friday, hitting $15.42. 142,190 shares of the company traded hands, compared to its average volume of 220,103. Marcus Corporation has a twelve month low of $14.11 and a twelve month high of $23.16. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.40. The business has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $16.77. The stock has a market capitalization of $482.80 million, a price-to-earnings ratio of 34.27, a price-to-earnings-growth ratio of 2.88 and a beta of 1.22.
Marcus (NYSE:MCS - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Marcus had a return on equity of 4.28% and a net margin of 1.91%.The company had revenue of $206.04 million for the quarter, compared to the consensus estimate of $192.79 million. As a group, equities research analysts predict that Marcus Corporation will post 0.36 earnings per share for the current year.
Marcus Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.32 annualized dividend and a yield of 2.1%. This is an increase from Marcus's previous quarterly dividend of $0.07. Marcus's dividend payout ratio (DPR) is presently 71.11%.
Wall Street Analysts Forecast Growth
MCS has been the subject of a number of analyst reports. 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 target price 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. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of Marcus in a research note on Monday, August 4th. Finally, Wedbush assumed coverage on Marcus in a report on Friday, July 18th. They set an "outperform" rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, Marcus currently has a consensus rating of "Buy" and a consensus price target of $24.50.
Check Out Our Latest Research Report on Marcus
Marcus Profile
(
Free Report)
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.
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