Mario Gabelli Increases Position in The Marcus Corporation (MCS)

Mario Gabelli and GAMCO Investors have boosted their holding in The Marcus Corporation (NYSE:MCS) to a total of over 2.14 million shares. The position held by GAMCO and other Gabelli’s funds amasses 11.75% of the company’s common stock. In its latest 13F, GAMCO revealed holding around 1.4 million shares of the company, down from 1.46 million held currently.

The rest of the shares are divided between Gabelli Funds, which owns around 348,000 shares of the total amount and Teton Advisors, with 341,800 shares.

Mario Gabelli

Currently, other funds also hold stakes in The Marcus Corporation (NYSE:MCS), aside from GAMCO, which, at the end of September, held the largest position, in terms of amount of shares out of the funds we track. Thomas E. Claugus’s Gmt Capital, owns over 740,900 shares, worth $10.8 million. Meanwhile Gregg J. Powers’s Private Capital Management reduced its position by over 65% during the third quarter, currently holding 274,300 shares, worth almost $4.0 million.

Last week, The Marcus Corporation (NYSE:MCS) announced its financial results for the second quarter of fiscal 2014. The company reported a revenue of $100.6 million compared to a revenue of $100.6 million in the second quarter 2013. The revenue for the first half of the fiscal year increased 5.1% from $15.4 million in the first half of fiscal 2013 to $16.7 million in the first half of fiscal 2014. The operating income declined 9.3% QoQ but there was a rise of 9.9% in the same when compared half yearly.

Net earnings per diluted common share fell 29.4% over the quarter to $0.12 in second quarter of 2014, while there was a surge of 14.8% in net earnings per diluted common share when compared to$0.54 for the same period in fiscal 2013.

Disclosure: none

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