Jain Global LLC Has $46.08 Million Stock Position in Cinemark Holdings Inc $CNK

Jain Global LLC grew its stake in Cinemark Holdings Inc (NYSE:CNK) by 37.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,644,623 shares of the company’s stock after purchasing an additional 447,468 shares during the period. Cinemark makes up approximately 0.2% of Jain Global LLC’s holdings, making the stock its 21st largest holding. Jain Global LLC owned approximately 1.40% of Cinemark worth $46,082,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Intech Investment Management LLC grew its position in Cinemark by 129.0% in the third quarter. Intech Investment Management LLC now owns 156,602 shares of the company’s stock valued at $4,388,000 after acquiring an additional 88,203 shares during the period. Marshall Wace LLP lifted its holdings in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after acquiring an additional 3,973,689 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Cinemark by 108.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 90,886 shares of the company’s stock valued at $2,547,000 after acquiring an additional 47,288 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Cinemark in the 3rd quarter valued at $1,444,000. Finally, Cartenna Capital LP boosted its stake in shares of Cinemark by 29.4% in the 3rd quarter. Cartenna Capital LP now owns 1,650,000 shares of the company’s stock valued at $46,233,000 after purchasing an additional 375,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CNK shares. UBS Group upgraded shares of Cinemark to a “buy” rating in a research report on Tuesday, January 20th. Benchmark reaffirmed a “buy” rating on shares of Cinemark in a research note on Thursday, February 19th. JPMorgan Chase & Co. dropped their price objective on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Finally, Roth Mkm reissued a “buy” rating and issued a $36.00 target price on shares of Cinemark in a report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.08.

Insider Buying and Selling at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total value of $206,941.20. Following the completion of the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Cinemark Stock Performance

Cinemark stock opened at $25.78 on Monday. The stock has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $26.02. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 29.63 and a beta of 1.08. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 4.74. Cinemark Holdings Inc has a 12-month low of $21.60 and a 12-month high of $34.01.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The company had revenue of $776.30 million for the quarter, compared to the consensus estimate of $778.41 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts anticipate that Cinemark Holdings Inc will post 1.93 earnings per share for the current fiscal year.

Cinemark Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio is 41.38%.

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.