Nuveen LLC Acquires New Shares in Marcus Corporation (The) $MCS

Key Points

• Nuveen LLC has acquired a new stake in Marcus Corporation, purchasing 98,041 shares valued at approximately $1,636,000, representing about 0.31% ownership of the company.
• Multiple institutional investors, including Lazard Asset Management and Harbor Capital Advisors, have significantly increased their positions in Marcus, contributing to a total of 81.57% institutional ownership of the company's stock.
• The company recently increased its quarterly dividend to $0.08 per share, yielding 2.1%, with the ex-dividend date set for August 25th.

Nuveen LLC purchased a new position in Marcus Corporation (The) (NYSE:MCS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 98,041 shares of the company's stock, valued at approximately $1,636,000. Nuveen LLC owned about 0.31% of Marcus as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MCS. Lazard Asset Management LLC grew its position 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 buying an additional 2,298 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Marcus during the 1st quarter worth approximately $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Marcus by 38.6% during the 1st 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 in the last quarter. Janus Henderson Group PLC purchased a new position in Marcus during the 4th quarter worth approximately $206,000. Finally, Virtus Investment Advisers Inc. purchased a new position in Marcus during the 4th quarter worth approximately $226,000. Institutional investors and hedge funds own 81.57% of the company's stock.

Marcus Stock Down 0.2%

Shares of NYSE:MCS traded down $0.03 during trading on Thursday, reaching $15.11. 4,410 shares of the company traded hands, compared to its average volume of 206,054. The firm has a fifty day simple moving average of $16.23 and a 200 day simple moving average of $16.90. The firm has a market cap of $473.06 million, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 2.89 and a beta of 1.22. Marcus Corporation has a 1-year low of $14.11 and a 1-year 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.

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

Marcus Increases Dividend

The firm also recently disclosed 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 represents a $0.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 25th. This is a boost from Marcus's previous quarterly dividend of $0.07. Marcus's dividend payout ratio (DPR) is presently 71.11%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. B. Riley assumed coverage on shares of Marcus in a research report on Friday, May 16th. They set a "buy" rating and a $24.00 price objective on the stock. Wall Street Zen cut shares of Marcus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of Marcus in a research report on Monday, August 4th. Finally, Wedbush assumed coverage on shares of Marcus in a research report on Friday, July 18th. They set an "outperform" rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $24.50.

Marcus Company 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.