Western Wealth Management LLC increased its stake in Cinemark Holdings, Inc. (NYSE:CNK) by 20.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,874 shares of the company’s stock after purchasing an additional 1,845 shares during the period. Western Wealth Management LLC’s holdings in Cinemark were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Cinemark in the 2nd quarter valued at $49,000. Quadrant Capital Group LLC lifted its stake in shares of Cinemark by 766.1% in the 1st quarter. Quadrant Capital Group LLC now owns 1,429 shares of the company’s stock valued at $55,000 after purchasing an additional 1,264 shares during the period. Marshall Wace LLP acquired a new position in shares of Cinemark in the 1st quarter valued at $65,000. Cutler Group LP acquired a new position in shares of Cinemark in the 1st quarter valued at $115,000. Finally, Starr International Co. Inc. acquired a new position in shares of Cinemark in the 1st quarter valued at $154,000. Institutional investors own 96.29% of the company’s stock.
In related news, CFO Sean Gamble sold 5,669 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $41.50, for a total value of $235,263.50. Following the completion of the sale, the chief financial officer now owns 126,025 shares of the company’s stock, valued at approximately $5,230,037.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.00% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the stock. Loop Capital upgraded shares of Cinemark from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, July 3rd. Credit Suisse Group assumed coverage on shares of Cinemark in a research note on Friday, July 19th. They issued an “outperform” rating and a $43.00 target price for the company. Morgan Stanley decreased their target price on shares of Cinemark from $41.00 to $37.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 23rd. ValuEngine upgraded shares of Cinemark from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Wedbush reiterated a “buy” rating and issued a $49.00 target price on shares of Cinemark in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Cinemark presently has an average rating of “Buy” and a consensus target price of $44.00.
NYSE CNK traded down $0.79 on Friday, hitting $37.00. The company had a trading volume of 672,344 shares, compared to its average volume of 1,214,890. The company has a market capitalization of $4.43 billion, a PE ratio of 20.22, a PEG ratio of 1.08 and a beta of 0.71. The company’s fifty day moving average price is $38.32 and its 200-day moving average price is $38.96. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.92. Cinemark Holdings, Inc. has a 12-month low of $34.49 and a 12-month high of $43.51.
Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $957.76 million during the quarter, compared to analyst estimates of $906.57 million. Cinemark had a net margin of 6.31% and a return on equity of 13.75%. On average, sell-side analysts anticipate that Cinemark Holdings, Inc. will post 2.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, September 3rd. Cinemark’s payout ratio is presently 74.32%.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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