EP Wealth Advisors LLC Buys New Position in Cinemark Holdings Inc $CNK

EP Wealth Advisors LLC bought a new position in shares of Cinemark Holdings Inc (NYSE:CNK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,160 shares of the company’s stock, valued at approximately $449,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cinemark by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock valued at $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP acquired a new stake in Cinemark during the first quarter valued at approximately $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cinemark by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock worth $8,593,000 after buying an additional 25,490 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cinemark in the first quarter worth approximately $372,000. Finally, Russell Investments Group Ltd. grew its position in Cinemark by 48.0% in the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock worth $158,000 after buying an additional 1,696 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNK. Benchmark increased their price objective on Cinemark from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company boosted their target price on Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. B. Riley Financial increased their price target on Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wedbush boosted their price objective on Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Moffett Nathanson reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cinemark in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.93.

Cinemark Stock Performance

Shares of CNK opened at $37.37 on Wednesday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 22.11 and a beta of 1.00. The company’s fifty day moving average is $33.91 and its 200-day moving average is $30.15. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 3.87. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $38.98.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.16. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a return on equity of 50.94% and a net margin of 6.44%.The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. Equities analysts expect that Cinemark Holdings Inc will post 2.36 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 26th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, August 26th. Cinemark’s dividend payout ratio (DPR) is currently 21.30%.

About Cinemark

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in?theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate?owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large?format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.