Marcus (NYSE:MCS) Trading Down 7.2% - Here's What Happened

Key Points

• Shares fell 7.2% during mid-day trading to about $17.62 (low $17.40) on volume of 108,192 shares, down 27% from the average session volume.
• Analysts maintain a consensus "Moderate Buy" with four Buy and two Hold ratings and an average price target of $23.25, with recent price-target raises and reiterations from Barrington, B. Riley and Wedbush.
• Marcus reported Q earnings of ($0.51) EPS

Marcus Corporation (The) (NYSE:MCS - Get Free Report)'s share price traded down 7.2% during mid-day trading on Thursday . The company traded as low as $17.40 and last traded at $17.6150. 108,192 shares were traded during mid-day trading, a decline of 27% from the average session volume of 148,539 shares. The stock had previously closed at $18.98.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and issued a $24.00 price target on shares of Marcus in a research note on Monday, March 2nd. B. Riley Financial reaffirmed a "buy" rating on shares of Marcus in a report on Friday, April 17th. Wedbush raised their price target on shares of Marcus from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Zacks Research raised shares of Marcus from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.25.

Marcus Stock Performance

The business's fifty day moving average price is $17.45 and its 200-day moving average price is $15.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $543.67 million, a PE ratio of 44.16, a P/E/G ratio of 2.66 and a beta of 0.55.

Marcus (NYSE:MCS - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.04. The firm had revenue of $154.40 million for the quarter, compared to the consensus estimate of $150.52 million. Marcus had a net margin of 1.67% and a return on equity of 0.46%. As a group, equities research analysts forecast that Marcus Corporation will post 0.48 EPS for the current fiscal year.

Marcus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 25th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, February 25th. Marcus's dividend payout ratio is 80.00%.

Insider Activity at Marcus

In other news, insider Michael Reade Evans sold 7,671 shares of the 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 owned 45,801 shares in the company, valued at $872,051.04. This represents a 14.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas F. Kissinger sold 25,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $17.32, for a total transaction of $433,000.00. Following the completion of the transaction, the vice president owned 199,700 shares in the company, valued at $3,458,804. This trade represents a 11.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,708 shares of company stock worth $579,646 in the last quarter. Company insiders own 16.53% of the company's stock.

Hedge Funds Weigh In On Marcus

Several institutional investors have recently made changes to their positions in MCS. Navalign LLC bought a new stake in Marcus during the 4th quarter worth approximately $33,000. Russell Investments Group Ltd. raised its stake in Marcus by 550.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,264 shares of the company's stock worth $35,000 after acquiring an additional 1,916 shares during the period. Tower Research Capital LLC TRC raised its stake in Marcus by 60.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,494 shares of the company's stock worth $42,000 after acquiring an additional 937 shares during the period. State of Alaska Department of Revenue raised its stake in Marcus by 656.0% during the 4th quarter. State of Alaska Department of Revenue now owns 5,761 shares of the company's stock worth $88,000 after acquiring an additional 4,999 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Marcus by 67.6% during the 4th quarter. Meeder Asset Management Inc. now owns 10,109 shares of the company's stock worth $157,000 after acquiring an additional 4,076 shares during the period. Institutional investors own 81.57% of the company's stock.

About Marcus

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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