Russell Investments Group Ltd. Sells 22,043 Shares of Marcus Corporation (The) $MCS

Key Points

• Russell Investments Group Ltd. has significantly reduced its stake in Marcus Corporation by 33.8%, now owning approximately 43,232 shares valued at $721,000.
• In the first quarter, several hedge funds increased their investments in Marcus, including GAMMA Investing LLC, which raised its stake by an astonishing 1,529.9%.
• Marcus Corporation recently raised its quarterly dividend to $0.08 per share, reflecting a 2.1% yield, and reported earnings exceeding consensus estimates with a net margin of 1.91%.

Russell Investments Group Ltd. cut its holdings in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,232 shares of the company's stock after selling 22,043 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Marcus worth $721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC grew its position in Marcus by 2,908.9% during the fourth quarter. Lazard Asset Management LLC now owns 2,377 shares of the company's stock valued at $51,000 after buying an additional 2,298 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Marcus in the first quarter valued at about $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Marcus by 38.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,700 shares of the company's stock valued at $145,000 after acquiring an additional 2,424 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Marcus during the 4th quarter worth approximately $206,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Marcus during the 4th quarter worth approximately $226,000. 81.57% of the stock is owned by hedge funds and other institutional investors.

Marcus Price Performance

Shares of Marcus stock traded up $0.16 on Thursday, hitting $15.30. 152,893 shares of the company traded hands, compared to its average volume of 225,475. Marcus Corporation has a 12-month low of $14.11 and a 12-month high of $23.16. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $479.04 million, a P/E ratio of 34.00, a P/E/G ratio of 2.83 and a beta of 1.22. The firm's 50-day simple moving average is $16.20 and its 200 day simple moving average is $16.85.

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

Marcus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be paid a $0.08 dividend. This is a boost from Marcus's previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, August 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.1%. Marcus's dividend payout ratio is presently 71.11%.

Analysts Set New Price Targets

MCS has been the subject of several research reports. Wedbush started coverage on Marcus in a report on Friday, July 18th. They set an "outperform" rating and a $24.00 price objective for the company. Wall Street Zen lowered shares of Marcus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Barrington Research restated an "outperform" rating and set a $25.00 price target on shares of Marcus in a research note on Monday, August 4th. Finally, B. Riley started coverage on shares of Marcus in a research note on Friday, May 16th. They issued a "buy" rating and a $24.00 price objective for the company. One investment 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, Marcus has a consensus rating of "Buy" and an average price target of $24.50.

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.