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Gabelli Reports 23% Stake Increase in Movie Theatre Company Marcus Corp.
Posted by: Dianne Tordillo (IP Logged)
Date: January 9, 2013 04:59PM
GAMCO’s Mario Gabelli has added 23.48 percent to his stake in entertainment and lodging company Marcus Corp. (MCS), according to GuruFocus Real Time Picks.
In the last five years, Gabelli has continuously grown his position, leading up to his current holding of 743,113 shares. After this most recent stake increase, Gabelli sits with 4.02 percent of the company’s outstanding shares.
Headquartered in Milwaukee, Marcus Corp. is included in the S&P’s SmallCap 600 Index and the Russell 2000 Index, among others. A family business, Marcus started off as a single movie theater in a small town in Wisconsin, and then grew to become one the largest theater circuits in the U.S., dually managing the business with its hotels and resorts division, which oversees a portfolio of about 20 lodging properties in 10 states.
Gabelli’s Marcus transaction came at the same time Marcus announced its share repurchase program, of up to 3 million additional shares of the company’s outstanding common stock. As of Dec. 31, the company had about 18.5 million shares of common stock outstanding, and about 8.8 million shares of Class B common stock outstanding.
“We continue to believe that repurchasing our shares is a good investment for the company,” Gregory Marcus, president and CEO of Marcus Corp, said. “With our strong cash flow and balance sheet, we believe that when timing and market conditions are appropriate, we will be able to repurchase shares to enhance shareholder value while at the same time continuing to invest in our businesses to facilitate our long-term growth.”
At the end of December, Marcus paid out a cash dividend of $1.00 per common share. Marcus was also one of the many companies that accelerated its quarterly cash dividends, in its case, its next two dividend payments, due to fear of what’s to come from the tax laws that have taken effect at the start of 2013.
In its 10-Year Financials, Marcus displays an annual revenue growth of 1.48 percent. In the past year, the company’s stock price went up 6.52 percent. Its EBITDA growth in the past 12 months was 10.4 percent.
MCS data by GuruFocus.com
On GuruFocus, Marcus is ranked 1 star in Business Predictability, 5 in Financial Strength and 6 in Profitability and Growth. It has a dividend yield of 2.8 percent, a P/E ratio of 13.9, a P/S ratio of 0.9 and a P/B ratio of 1.1. It is currently trading at $13.29 per share.
To view the rest of Gabelli’s latest trades, go to Mario Gabelli’s Stock Picks. Also view his undervalued stocks, his high yield companies and his top growth stocks.
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Guru Discussed: Mario Gabelli: Current Portfolio, Stock Picks
Stocks Discussed: MCS,