Gabelli Funds LLC Purchases 49,826 Shares of Cinemark Holdings Inc $CNK

Gabelli Funds LLC grew its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 96.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,376 shares of the company’s stock after buying an additional 49,826 shares during the quarter. Gabelli Funds LLC’s holdings in Cinemark were worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNK. EverSource Wealth Advisors LLC grew its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Cinemark by 20.1% in the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock valued at $83,000 after buying an additional 506 shares during the period. GAMMA Investing LLC lifted its holdings in Cinemark by 51.8% in the fourth quarter. GAMMA Investing LLC now owns 4,022 shares of the company’s stock valued at $93,000 after buying an additional 1,372 shares during the period. Bayforest Capital Ltd acquired a new position in Cinemark in the fourth quarter valued at $121,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Cinemark by 48.0% during the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after purchasing an additional 1,696 shares during the period.

Cinemark Trading Down 0.7%

Shares of CNK stock opened at $26.40 on Friday. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $34.01. The company has a debt-to-equity ratio of 5.03, a quick ratio of 0.58 and a current ratio of 0.62. The company has a 50-day simple moving average of $28.08 and a two-hundred day simple moving average of $26.41. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.36 and a beta of 1.03.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Cinemark had a return on equity of 41.31% and a net margin of 5.31%.The firm had revenue of $643.10 million during the quarter, compared to the consensus estimate of $632.74 million. During the same period in the previous year, the company posted ($0.32) earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts anticipate that Cinemark Holdings Inc will post 2.11 EPS for the current fiscal year.

Cinemark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, May 28th. Cinemark’s dividend payout ratio is presently 31.86%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNK. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of Cinemark in a report on Monday, May 4th. Morgan Stanley upped their price objective on shares of Cinemark from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. B. Riley Financial reiterated a “neutral” rating on shares of Cinemark in a report on Friday, April 17th. JPMorgan Chase & Co. upped their price objective on shares of Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cinemark in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cinemark has an average rating of “Moderate Buy” and an average price target of $33.31.

Cinemark 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.