Marcus Corporation (The) $MCS Shares Purchased by Martingale Asset Management L P

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 stake in Marcus Corporation (The) (NYSE:MCS - Free Report) by 63.2% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 0.23% of Marcus worth $1,192,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its stake in Marcus by 0.8% in the fourth quarter. Invesco Ltd. now owns 64,448 shares of the company's stock worth $1,386,000 after purchasing an additional 511 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Marcus by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 95,932 shares of the company's stock worth $1,601,000 after acquiring an additional 778 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Marcus by 2,908.9% during the 4th quarter. Lazard Asset Management LLC now owns 2,377 shares of the company's stock valued at $51,000 after acquiring an additional 2,298 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Marcus by 38.6% during 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 last quarter. Finally, Quarry LP acquired a new position in Marcus in the fourth quarter worth $70,000. Institutional investors and hedge funds own 81.57% of the company's stock.

Wall Street Analysts Forecast Growth

MCS has been the topic of a number of research reports. Wedbush began coverage on shares of Marcus in a report on Friday, July 18th. They set an "outperform" rating and a $24.00 target price on the stock. Barrington Research reaffirmed 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 report on Friday, May 16th. They issued a "buy" rating and a $24.00 target price on the stock. Finally, Wall Street Zen downgraded 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 issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $24.50.

Marcus Stock Performance

Shares of NYSE:MCS traded down $0.26 during trading hours on Thursday, hitting $15.35. The stock had a trading volume of 120,036 shares, compared to its average volume of 206,672. The stock's fifty day simple moving average is $16.40 and its 200 day simple moving average is $17.12. Marcus Corporation has a 1-year low of $13.94 and a 1-year high of $23.16. The firm has a market capitalization of $480.45 million, a price-to-earnings ratio of 34.11, a PEG ratio of 2.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.39 and a current ratio of 0.39.

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 net margin of 1.91% and a return on equity of 4.28%. The company had revenue of $206.04 million for the quarter, compared to analyst estimates of $192.79 million. Sell-side analysts anticipate 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. Shareholders of record on Monday, August 25th will be paid a $0.08 dividend. The ex-dividend date is Monday, August 25th. This is an increase from Marcus's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 2.1%. Marcus's dividend payout ratio (DPR) is 71.11%.

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.