Key Points
- Insider sale: Marcus director Diane Gershowitz sold 50,000 shares for approximately $1.38 million at an average price of $27.61, reducing her direct ownership by 28.47% to 125,617 shares.
- Financial performance: Marcus reported quarterly EPS of $0.51, beating estimates of $0.35, while revenue of $231.74 million exceeded expectations of $217.72 million.
- Market outlook: Analysts maintain a consensus “Moderate Buy” rating with a $32.25 price target; the company also raised its quarterly dividend to $0.09 per share, yielding about 1.3%.
Marcus Corporation (The) (NYSE:MCS - Get Free Report) Director Diane Gershowitz sold 50,000 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the sale, the director directly owned 125,617 shares in the company, valued at approximately $3,468,285.37. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Marcus Price Performance
MCS opened at $28.21 on Friday. The stock has a 50-day moving average price of $27.96 and a 200-day moving average price of $22.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.44 and a quick ratio of 0.44. The firm has a market cap of $869.87 million, a PE ratio of 39.74 and a beta of 0.52. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.16. Marcus had a net margin of 2.87% and a return on equity of 2.67%. The company had revenue of $231.74 million for the quarter, compared to analysts' expectations of $217.72 million. Sell-side analysts predict that Marcus Corporation will post 0.81 earnings per share for the current fiscal year.
Marcus Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.3%. This is a boost from Marcus's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, August 25th. Marcus's dividend payout ratio is presently 50.70%.
Institutional Trading of Marcus
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Saber Capital Managment LLC bought a new position in Marcus in the 4th quarter worth $7,836,000. Bank of New York Mellon Corp bought a new stake in Marcus during the second quarter valued at about $6,481,000. Heartland Advisors Inc. grew its holdings in Marcus by 24.4% during the first quarter. Heartland Advisors Inc. now owns 255,000 shares of the company's stock valued at $4,378,000 after purchasing an additional 50,000 shares during the period. Lazard Asset Management LLC purchased a new stake in Marcus in the first quarter worth about $844,000. Finally, Susquehanna International Group LLP increased its position in Marcus by 183.1% in the second quarter. Susquehanna International Group LLP now owns 47,094 shares of the company's stock worth $1,105,000 after buying an additional 30,457 shares in the last quarter. 81.57% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. B. Riley Financial cut shares of Marcus from a "buy" rating to a "neutral" rating and increased their price target for the company from $27.00 to $29.00 in a report on Friday, July 31st. Wedbush upped their price objective on Marcus from $23.00 to $34.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Wall Street Zen raised Marcus from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research upgraded Marcus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, Benchmark lifted their target price on Marcus from $22.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, July 31st. One research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.25.
Read Our Latest Analysis on Marcus
About Marcus
(
Get Free Report)
Marcus Corporation is a diversified hospitality and entertainment company headquartered in Milwaukee, Wisconsin. Founded in 1935, the company operates through two primary business segments: movie theatres and hotels and resorts.
Through Marcus Theatres, the company owns and operates cinemas under the Marcus Theatres and Movie Tavern brands, offering first-run films, premium viewing experiences, food and beverage service, and other entertainment amenities. Its theatres are located primarily in the Midwestern United States, with additional locations in other regions.
Through Marcus Hotels & Resorts, the company owns, manages, or develops hotels, resorts, and related hospitality properties.
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