Marcus (NYSE:MCS) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Marcus shares rose above their 200-day moving average during Thursday trading, reaching as high as $22.34 before last trading around $21.84. The move came on volume of 107,113 shares, with the 200-day average at $17.93.
• Wall Street sentiment is broadly positive, with several analysts raising targets or upgrading the stock. The current consensus rating is Buy, and the consensus price target is $24.25.
• Recent earnings topped expectations, as Marcus reported a smaller-than-expected quarterly loss of $0.51 per share on revenue of $154.4 million. The company also pays a quarterly dividend of $0.08 per share, or $0.32 annually, for a yield of 1.5%.

Marcus Corporation (The) (NYSE:MCS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.93 and traded as high as $22.34. Marcus shares last traded at $21.8440, with a volume of 107,113 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MCS. Wedbush increased their target price on shares of Marcus from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Zacks Research upgraded shares of Marcus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Marcus from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 4th. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price objective on shares of Marcus in a report on Monday, May 4th. Finally, B. Riley Financial lifted their target price on shares of Marcus from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.25.

Marcus Price Performance

The stock has a market capitalization of $671.27 million, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a 50-day simple moving average of $20.52 and a 200 day simple moving average of $17.93.

Marcus (NYSE:MCS - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $0.03. The company had revenue of $154.40 million during the quarter, compared to the consensus estimate of $148.78 million. Marcus had a return on equity of 0.79% and a net margin of 1.85%. On average, equities analysts forecast that Marcus Corporation will post 0.49 earnings per share for the current fiscal year.

Marcus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 1st. Marcus's payout ratio is 74.42%.

Insiders Place Their Bets

In other Marcus news, insider Michael Reade Evans sold 7,671 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $19.04, for a total value of $146,055.84. Following the transaction, the insider directly owned 45,801 shares of the company's stock, valued at approximately $872,051.04. This trade represents a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.53% of the stock is owned by corporate insiders.

Institutional Trading of Marcus

Several institutional investors and hedge funds have recently made changes to their positions in the business. Orbis Allan Gray Ltd grew its stake in shares of Marcus by 7.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,915,765 shares of the company's stock worth $29,714,000 after purchasing an additional 141,064 shares during the period. KLCM Advisors Inc. lifted its stake in Marcus by 7.0% in the fourth quarter. KLCM Advisors Inc. now owns 1,085,909 shares of the company's stock valued at $16,842,000 after buying an additional 70,958 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Marcus by 12.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 915,835 shares of the company's stock worth $14,205,000 after buying an additional 100,480 shares during the last quarter. American Century Companies Inc. boosted its holdings in Marcus by 4.6% during the third quarter. American Century Companies Inc. now owns 912,696 shares of the company's stock worth $14,156,000 after buying an additional 40,295 shares during the last quarter. Finally, Saber Capital Managment LLC bought a new position in Marcus during the fourth quarter worth about $7,836,000. Institutional investors own 81.57% of the company's stock.

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. 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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