Cinemark Holdings Inc $CNK Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Cinemark Holdings Inc (NYSE:CNK) by 4,151.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,251 shares of the company’s stock after acquiring an additional 26,610 shares during the quarter. Fifth Third Bancorp’s holdings in Cinemark were worth $777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNK. State of New Jersey Common Pension Fund D purchased a new position in Cinemark in the fourth quarter valued at approximately $1,661,000. UBS Group AG lifted its position in shares of Cinemark by 49.8% during the 4th quarter. UBS Group AG now owns 1,100,402 shares of the company’s stock worth $25,573,000 after buying an additional 365,630 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Cinemark by 80.1% during the 1st quarter. GHP Investment Advisors Inc. now owns 41,764 shares of the company’s stock worth $1,191,000 after buying an additional 18,579 shares during the last quarter. Saber Capital Managment LLC acquired a new position in shares of Cinemark in the 4th quarter valued at $6,300,000. Finally, MYDA Advisors LLC boosted its holdings in shares of Cinemark by 215.0% in the 4th quarter. MYDA Advisors LLC now owns 315,000 shares of the company’s stock valued at $7,321,000 after buying an additional 215,000 shares in the last quarter.

Analyst Upgrades and Downgrades

CNK has been the topic of several research analyst reports. Guggenheim set a $37.00 price target on shares of Cinemark in a research note on Thursday, July 2nd. Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of Cinemark in a research report on Monday, May 4th. Benchmark boosted their target price on Cinemark from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their target price on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and upped their target price for the company from $23.00 to $30.00 in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.58.

Cinemark Price Performance

Shares of NYSE CNK opened at $33.60 on Tuesday. The stock has a fifty day moving average price of $30.85 and a 200 day moving average price of $28.19. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.73. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.62 and a quick ratio of 0.58. The company has a market cap of $3.92 billion, a PE ratio of 29.74 and a beta of 0.98.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $643.10 million during the quarter, compared to analyst estimates of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. Sell-side analysts forecast that Cinemark Holdings Inc will post 2.14 EPS for the current year.

Cinemark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $0.36 annualized dividend and a dividend yield of 1.1%. Cinemark’s payout ratio is presently 31.86%.

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.