Renaissance Technologies LLC Has $5.37 Million Stock Position in Marcus Corporation (The) $MCS

Key Points

• Renaissance Technologies reduced its Marcus position by 24.6% in the first quarter, selling 102,119 shares. It still held 312,970 shares worth approximately $5.37 million, or 1.02% of the company.
• Analyst sentiment remains favorable, with Marcus carrying a consensus “Moderate Buy” rating and an average price target of $32.25. Recent targets ranged from $29 to $33.
• Marcus exceeded quarterly expectations, reporting $0.51 in EPS and $231.74 million in revenue, while raising its quarterly dividend from $0.08 to $0.09 per share.

Renaissance Technologies LLC lowered its position in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) by 24.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 312,970 shares of the company's stock after selling 102,119 shares during the quarter. Renaissance Technologies LLC owned approximately 1.02% of Marcus worth $5,374,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Saber Capital Managment LLC acquired a new stake in Marcus in the fourth quarter worth about $7,836,000. Pacific Ridge Capital Partners LLC bought a new stake in Marcus during the 4th quarter worth about $2,594,000. Gamco Investors INC. ET AL lifted its position in Marcus by 12.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 915,835 shares of the company's stock valued at $14,205,000 after purchasing an additional 100,480 shares during the period. Bastion Asset Management Inc. lifted its position in Marcus by 70.1% during the 4th quarter. Bastion Asset Management Inc. now owns 374,612 shares of the company's stock valued at $5,716,000 after purchasing an additional 154,439 shares during the period. Finally, KLCM Advisors Inc. boosted its stake in shares of Marcus by 7.0% in the 4th quarter. KLCM Advisors Inc. now owns 1,085,909 shares of the company's stock valued at $16,842,000 after purchasing an additional 70,958 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company's stock.

Analysts Set New Price Targets

MCS has been the subject of several analyst reports. Barrington Research set a $33.00 price target on shares of Marcus in a research report on Monday. Zacks Research upgraded shares of Marcus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. Benchmark raised their price objective on shares of Marcus from $22.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, July 31st. B. Riley Financial lowered shares of Marcus from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $27.00 to $29.00 in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Marcus from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

Marcus Price Performance

Marcus stock opened at $30.77 on Thursday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $945.56 million, a P/E ratio of 43.34, a PEG ratio of 2.56 and a beta of 0.51. The business has a 50-day moving average of $23.24 and a 200-day moving average of $19.24. Marcus Corporation has a 1 year low of $12.85 and a 1 year high of $32.42.

Marcus (NYSE:MCS - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.16. The business had revenue of $231.74 million for the quarter, compared to the consensus estimate of $217.72 million. Marcus had a net margin of 2.87% and a return on equity of 2.67%. On average, equities analysts anticipate that Marcus Corporation will post 0.81 EPS for the current year.

Marcus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.2%. This is a boost from Marcus's previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, August 25th. Marcus's dividend payout ratio (DPR) is 45.07%.

Marcus 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. The company also owns and operates full-service hotels and resorts, as well as manages full-service hotels, resorts, and other properties. In addition, it provides hospitality management services, including check-in, housekeeping, and maintenance for a vacation ownership development; and manages condominium hotels under long-term management contracts.

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