Short Interest in The Marcus Co. (NYSE:MCS) Drops By 21.3%

The Marcus Co. (NYSE:MCS) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 623,900 shares, a drop of 21.3% from the February 28th total of 793,000 shares. Based on an average trading volume of 213,600 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.7% of the company’s shares are short sold.

Marcus Trading Up 1.9 %

Shares of MCS stock traded up $0.32 during trading hours on Wednesday, hitting $17.02. The company had a trading volume of 169,761 shares, compared to its average volume of 442,953. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $540.37 million, a PE ratio of -50.06, a price-to-earnings-growth ratio of 3.12 and a beta of 1.57. The company’s fifty day moving average is $19.10 and its 200 day moving average is $19.27. Marcus has a fifty-two week low of $9.56 and a fifty-two week high of $23.16.

Marcus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, February 25th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $0.28 annualized dividend and a dividend yield of 1.65%. Marcus’s dividend payout ratio is presently -107.69%.

Hedge Funds Weigh In On Marcus

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new position in shares of Marcus in the fourth quarter valued at approximately $298,000. Virtus Investment Advisers Inc. acquired a new stake in shares of Marcus in the fourth quarter valued at $226,000. State of Wyoming boosted its holdings in Marcus by 145.7% in the fourth quarter. State of Wyoming now owns 19,916 shares of the company’s stock valued at $428,000 after purchasing an additional 11,810 shares during the period. Millennium Management LLC grew its stake in Marcus by 28.7% during the 4th quarter. Millennium Management LLC now owns 353,516 shares of the company’s stock worth $7,601,000 after purchasing an additional 78,932 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Marcus by 2,908.9% during the 4th quarter. Lazard Asset Management LLC now owns 2,377 shares of the company’s stock worth $51,000 after purchasing an additional 2,298 shares during the period. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MCS shares. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Marcus in a research report on Thursday, January 30th. StockNews.com downgraded shares of Marcus from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $27.00 price objective on shares of Marcus in a report on Thursday, February 27th.

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.