Maverick Capital Ltd. Makes New $436,000 Investment in Cinemark Holdings Inc $CNK

Maverick Capital Ltd. acquired a new stake in Cinemark Holdings Inc (NYSE:CNK) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,289 shares of the company’s stock, valued at approximately $436,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cinemark by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,699 shares of the company’s stock worth $1,635,000 after purchasing an additional 2,872 shares in the last quarter. Woodline Partners LP purchased a new position in Cinemark in the first quarter valued at $570,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cinemark by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 345,258 shares of the company’s stock valued at $8,593,000 after buying an additional 25,490 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Cinemark in the first quarter valued at $372,000. Finally, Russell Investments Group Ltd. raised its stake in Cinemark by 48.0% in the second quarter. Russell Investments Group Ltd. now owns 5,228 shares of the company’s stock valued at $158,000 after buying an additional 1,696 shares in the last quarter.

Cinemark Trading Down 0.6%

NYSE:CNK opened at $34.84 on Thursday. The stock’s 50 day moving average price is $31.19 and its 200 day moving average price is $28.36. The company has a market capitalization of $4.07 billion, a PE ratio of 30.83 and a beta of 0.98. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 5.03. Cinemark Holdings Inc has a 52-week low of $21.60 and a 52-week high of $35.50.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. Cinemark’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. On average, research analysts anticipate that Cinemark Holdings Inc will post 2.15 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Cinemark’s dividend payout ratio is currently 31.86%.

Wall Street Analyst Weigh In

CNK has been the subject of several analyst reports. B. Riley Financial lowered their price objective on Cinemark from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. The Goldman Sachs Group raised Cinemark from a “sell” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $30.00 in a research report on Wednesday, July 8th. Roth Capital reissued a “buy” rating and set a $38.00 price objective on shares of Cinemark in a report on Friday, July 17th. Barrington Research restated an “outperform” rating and issued a $36.00 target price on shares of Cinemark in a report on Monday, May 4th. Finally, Guggenheim set a $37.00 price target on shares of Cinemark in a research note on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.31.

Cinemark Company 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.