Meeder Asset Management Inc. Buys 3,799 Shares of Marcus Corp (MCS)

Meeder Asset Management Inc. boosted its stake in shares of Marcus Corp (NYSE:MCS) by 40.9% in the 1st quarter, HoldingsChannel reports. The fund owned 13,097 shares of the company’s stock after buying an additional 3,799 shares during the period. Meeder Asset Management Inc.’s holdings in Marcus were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its position in Marcus by 7.8% during the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the company’s stock valued at $324,000 after acquiring an additional 585 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Marcus by 8.6% in the first quarter. State of Alaska Department of Revenue now owns 7,254 shares of the company’s stock valued at $290,000 after buying an additional 575 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in shares of Marcus by 8.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 137,763 shares of the company’s stock valued at $5,517,000 after buying an additional 10,939 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Marcus by 13.3% in the fourth quarter. Geode Capital Management LLC now owns 216,088 shares of the company’s stock valued at $8,535,000 after buying an additional 25,389 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new stake in shares of Marcus in the fourth quarter valued at approximately $4,475,000. Institutional investors own 59.05% of the company’s stock.

Marcus stock opened at $39.72 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Marcus Corp has a 12 month low of $29.45 and a 12 month high of $45.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.46 and a quick ratio of 0.46.

Marcus (NYSE:MCS) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $175.03 million during the quarter, compared to analysts’ expectations of $175.00 million. Marcus had a return on equity of 11.96% and a net margin of 7.55%. As a group, equities analysts predict that Marcus Corp will post 1.74 EPS for the current fiscal year.

A number of analysts have recently commented on MCS shares. Zacks Investment Research upgraded Marcus from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, January 16th. Benchmark boosted their price objective on Marcus to $45.00 and gave the company a “buy” rating in a research report on Friday, February 22nd. Barrington Research restated a “buy” rating and issued a $49.00 price objective on shares of Marcus in a research report on Thursday, February 21st. Finally, B. Riley set a $41.00 price objective on Marcus and gave the company a “hold” rating in a research report on Saturday, February 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Marcus has a consensus rating of “Buy” and an average price target of $45.75.

In other news, major shareholder Vss-Southern Holdings Llc sold 1,725,000 shares of Marcus stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $39.83, for a total value of $68,706,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Diane M. Gershowitz sold 21,542 shares of Marcus stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $40.26, for a total value of $867,280.92. Following the completion of the sale, the director now directly owns 207,955 shares in the company, valued at $8,372,268.30. The disclosure for this sale can be found here. Insiders sold 1,890,072 shares of company stock valued at $75,404,779 over the last 90 days. Company insiders own 29.04% of the company’s stock.

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About Marcus

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. As of March 12, 2019, it owned or operated 1,098 screens at 90 locations in 17 states; and owned and managed 21 hotels, resorts, and other properties in nine states. The company also operates a family entertainment center under the Funset Boulevard name in Appleton, Wisconsin, as well as owns and operates a retail outlet under the name of Ronnie's Plaza.

Further Reading: Dividend

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Institutional Ownership by Quarter for Marcus (NYSE:MCS)

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