Squarepoint Ops LLC Cuts Stock Holdings in Cinemark Holdings Inc $CNK

Squarepoint Ops LLC reduced its stake in Cinemark Holdings Inc (NYSE:CNK) by 55.1% during the 2nd quarter, Holdings Channel reports. The fund owned 357,814 shares of the company’s stock after selling 439,865 shares during the quarter. Squarepoint Ops LLC’s holdings in Cinemark were worth $11,353,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock valued at $28,000 after purchasing an additional 507 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Cinemark in the 2nd quarter valued at about $32,000. Leonteq Securities AG purchased a new position in shares of Cinemark in the 4th quarter valued at about $83,000. Nykredit A S acquired a new position in shares of Cinemark during the second quarter worth about $135,000. Finally, KBC Group NV grew its position in shares of Cinemark by 56.9% during the first quarter. KBC Group NV now owns 4,334 shares of the company’s stock worth $124,000 after buying an additional 1,572 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on CNK shares. Wall Street Zen cut shares of Cinemark from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. The Goldman Sachs Group upgraded shares of Cinemark from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $30.00 in a research note on Wednesday, July 8th. Wedbush boosted their price target on shares of Cinemark from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Guggenheim set a $37.00 price objective on shares of Cinemark in a research report on Thursday, July 2nd. Finally, Morgan Stanley set a $40.00 price objective on shares of Cinemark in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.93.

Cinemark Trading Down 2.7%

NYSE:CNK opened at $35.19 on Thursday. Cinemark Holdings Inc has a 1 year low of $21.60 and a 1 year high of $38.98. The stock has a market cap of $4.08 billion, a P/E ratio of 20.82 and a beta of 0.98. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.81 and a current ratio of 0.84. The stock has a 50-day simple moving average of $34.49 and a 200-day simple moving average of $30.93.

Cinemark (NYSE:CNK) last issued its earnings results on Thursday, July 30th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. As a group, analysts anticipate that Cinemark Holdings Inc will post 2.36 earnings per share for the current fiscal year.

Cinemark Dividend Announcement

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

Cinemark Company Profile

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.