Marcus Corporation (The) (NYSE:MCS – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.82 and last traded at $22.6840, with a volume of 237945 shares traded. The stock had previously closed at $22.03.
Analyst Upgrades and Downgrades
MCS has been the subject of several recent research reports. Weiss Ratings lowered shares of Marcus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Barrington Research restated an “outperform” rating and issued a $25.00 price target on shares of Marcus in a research report on Monday, May 4th. Zacks Research raised Marcus from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. B. Riley Financial increased their price objective on Marcus from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Wedbush raised their price objective on Marcus from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.25.
Read Our Latest Stock Analysis on Marcus
Marcus Stock Up 0.2%
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 the consensus estimate of ($0.54) by $0.03. The business had revenue of $154.40 million for the quarter, compared to the consensus estimate of $148.78 million. Marcus had a net margin of 1.85% and a return on equity of 0.79%. As a group, analysts forecast that Marcus Corporation will post 0.49 EPS for the current year.
Marcus Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, June 1st. Marcus’s payout ratio is presently 74.42%.
Insider Transactions at Marcus
In other Marcus news, insider Michael Reade Evans sold 7,671 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $19.04, for a total transaction of $146,055.84. Following the sale, the insider directly owned 45,801 shares of the company’s stock, valued at $872,051.04. The trade was a 14.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.53% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Marcus
Hedge funds have recently bought and sold shares of the business. Navalign LLC purchased a new position in Marcus during the 4th quarter valued at about $33,000. Russell Investments Group Ltd. grew its position in Marcus by 550.6% during the third quarter. Russell Investments Group Ltd. now owns 2,264 shares of the company’s stock valued at $35,000 after purchasing an additional 1,916 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Marcus by 60.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,494 shares of the company’s stock valued at $42,000 after buying an additional 937 shares during the period. State of Alaska Department of Revenue lifted its position in Marcus by 656.0% in the 4th quarter. State of Alaska Department of Revenue now owns 5,761 shares of the company’s stock worth $88,000 after buying an additional 4,999 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Marcus by 67.6% in the 4th quarter. Meeder Asset Management Inc. now owns 10,109 shares of the company’s stock worth $157,000 after buying an additional 4,076 shares in the last quarter. 81.57% of the stock is owned by hedge funds and other institutional investors.
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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