Marcus Corporation (The) $MCS Shares Bought by PDT Partners LLC

Key Points

• PDT Partners LLC significantly increased its stake in Marcus Corporation by 140.2%, owning 0.10% of the company worth $539,000 after acquiring additional shares.
• Several institutional investors, including Vanguard Group and Martingale Asset Management, have also raised their stakes, indicating growing investment interest in Marcus, with institutional ownership now at 81.57%.
• Marcus Corporation recently increased its quarterly dividend from $0.07 to $0.08, resulting in an annualized yield of 2.1% for investors of record by August 25th.

PDT Partners LLC raised its holdings in Marcus Corporation (The) (NYSE:MCS - Free Report) by 140.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,315 shares of the company's stock after buying an additional 18,863 shares during the period. PDT Partners LLC owned about 0.10% of Marcus worth $539,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Marcus by 4.1% during the first quarter. Vanguard Group Inc. now owns 1,500,287 shares of the company's stock worth $25,040,000 after purchasing an additional 59,336 shares during the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Marcus by 5.4% during the first quarter. Orbis Allan Gray Ltd now owns 1,260,565 shares of the company's stock worth $21,039,000 after purchasing an additional 64,482 shares during the last quarter. KLCM Advisors Inc. grew its holdings in shares of Marcus by 4.4% during the first quarter. KLCM Advisors Inc. now owns 1,063,254 shares of the company's stock worth $17,746,000 after purchasing an additional 44,621 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Marcus by 14.7% during the first quarter. American Century Companies Inc. now owns 844,953 shares of the company's stock worth $14,102,000 after purchasing an additional 108,334 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Marcus by 28.7% during the fourth quarter. Millennium Management LLC now owns 353,516 shares of the company's stock worth $7,601,000 after purchasing an additional 78,932 shares during the last quarter. Hedge funds and other institutional investors own 81.57% of the company's stock.

Marcus Price Performance

NYSE:MCS traded up $0.42 during trading hours on Monday, hitting $15.85. The company's stock had a trading volume of 269,298 shares, compared to its average volume of 206,942. 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 Corporation has a 52-week low of $14.11 and a 52-week high of $23.16. The company has a market capitalization of $496.11 million, a PE ratio of 35.21, a PEG ratio of 2.88 and a beta of 1.22. The business's 50-day moving average is $16.17 and its two-hundred day moving average is $16.74.

Marcus (NYSE:MCS - Get Free Report) last announced its quarterly 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. Marcus had a net margin of 1.91% and a return on equity of 4.28%. The business had revenue of $206.04 million during the quarter, compared to the consensus estimate of $192.79 million. As a group, research analysts anticipate that Marcus Corporation will post 0.36 EPS for the current fiscal year.

Marcus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, August 25th. This is a positive change from Marcus's previous quarterly dividend of $0.07. Marcus's payout ratio is 71.11%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MCS shares. Wall Street Zen lowered Marcus from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Wedbush initiated coverage on Marcus in a report on Friday, July 18th. They set an "outperform" rating and a $24.00 price target on the stock. B. Riley initiated coverage on Marcus in a report on Friday, May 16th. They set a "buy" rating and a $24.00 price target on the stock. Finally, Barrington Research reissued an "outperform" rating and set a $25.00 price target on shares of Marcus in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.