Man Group plc Acquires New Shares in Cinemark Holdings Inc $CNK

Man Group plc bought a new stake in Cinemark Holdings Inc (NYSE:CNK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 453,253 shares of the company’s stock, valued at approximately $14,382,000. Man Group plc owned about 0.39% of Cinemark as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Cinemark during the 2nd quarter worth approximately $530,855,000. Orbis Allan Gray Ltd boosted its position in Cinemark by 31.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after buying an additional 3,563,810 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Cinemark by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock worth $221,638,000 after buying an additional 742,307 shares during the last quarter. Lavaca Capital LLC bought a new stake in shares of Cinemark during the fourth quarter worth $133,045,000. Finally, State Street Corp increased its holdings in shares of Cinemark by 1.5% during the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock worth $91,812,000 after buying an additional 60,176 shares in the last quarter.

Cinemark Trading Down 1.1%

NYSE CNK opened at $36.70 on Friday. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $38.98. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 3.87. The firm has a market capitalization of $4.25 billion, a PE ratio of 21.71 and a beta of 1.00. The business’s 50-day moving average price is $34.05 and its two-hundred day moving average price is $30.31.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.16. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.03 billion. Cinemark had a net margin of 6.44% and a return on equity of 50.94%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 EPS. On average, analysts expect that Cinemark Holdings Inc will post 2.36 EPS for the current year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 26th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Cinemark’s dividend payout ratio (DPR) is currently 21.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNK shares. The Goldman Sachs Group upgraded Cinemark from a “sell” rating to a “neutral” rating and increased their price target for the company from $23.00 to $30.00 in a research note on Wednesday, July 8th. Wells Fargo & Company upped their target price on Cinemark from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. B. Riley Financial increased their target price on Cinemark from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wall Street Zen raised Cinemark from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Finally, Benchmark boosted their price target on Cinemark from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.93.

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.