Martingale Asset Management L P Boosts Stock Position in Marcus Corporation (The) $MCS

Key Points

• Martingale Asset Management L P has increased its position in Marcus Corporation by 63.2%, owning 71,446 shares valued at approximately $1.19 million as of the latest filing with the SEC.
• Marcus Corporation reported better-than-expected earnings for the recent quarter, with earnings per share of $0.23, exceeding the consensus estimate of $0.19 and a revenue of $206.04 million.
• The company has announced a quarterly dividend increase to $0.08 per share, representing a dividend yield of 2.0%, up from a previous dividend of $0.07.

Martingale Asset Management L P raised its holdings in Marcus Corporation (The) (NYSE:MCS - Free Report) by 63.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,446 shares of the company's stock after purchasing an additional 27,678 shares during the period. Martingale Asset Management L P owned about 0.23% of Marcus worth $1,192,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Versor Investments LP acquired a new stake in Marcus in the first quarter valued at approximately $290,000. American Century Companies Inc. boosted its stake in shares of Marcus by 14.7% in the first quarter. American Century Companies Inc. now owns 844,953 shares of the company's stock worth $14,102,000 after acquiring an additional 108,334 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of Marcus by 79.7% in the first quarter. Brandywine Global Investment Management LLC now owns 90,140 shares of the company's stock worth $1,504,000 after acquiring an additional 39,990 shares during the last quarter. KLCM Advisors Inc. boosted its stake in shares of Marcus by 4.4% in the first quarter. KLCM Advisors Inc. now owns 1,063,254 shares of the company's stock worth $17,746,000 after acquiring an additional 44,621 shares during the last quarter. Finally, Operose Advisors LLC boosted its stake in shares of Marcus by 22,204.3% in the first quarter. Operose Advisors LLC now owns 15,390 shares of the company's stock worth $257,000 after acquiring an additional 15,321 shares during the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.

Marcus Trading Down 0.3%

NYSE MCS traded down $0.04 on Friday, reaching $15.28. 39,177 shares of the company were exchanged, compared to its average volume of 206,128. The business's fifty day moving average price is $16.37 and its 200 day moving average price is $17.08. The stock has a market capitalization of $478.39 million, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 2.92 and a beta of 1.24. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.40. Marcus Corporation has a fifty-two week low of $13.94 and a fifty-two week high of $23.16.

Marcus (NYSE:MCS - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $192.79 million. Analysts forecast that Marcus Corporation will post 0.36 earnings per share for the current year.

Marcus Increases Dividend

The firm also recently announced 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. 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 2.1%. The ex-dividend date is Monday, August 25th. Marcus's dividend payout ratio (DPR) is presently 71.11%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MCS shares. Wedbush started coverage on Marcus in a research note on Friday, July 18th. They issued an "outperform" rating and a $24.00 price target on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Marcus in a research note on Monday, August 4th. B. Riley started coverage on Marcus in a research note on Friday, May 16th. They issued a "buy" rating and a $24.00 price target on the stock. Finally, Wall Street Zen lowered Marcus from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, Marcus currently has a consensus rating of "Buy" and a consensus price target of $24.50.

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.