Advisors Capital Management LLC Has $1.65 Million Holdings in Cinemark Holdings, Inc. (CNK)
Advisors Capital Management LLC lowered its position in Cinemark Holdings, Inc. (NYSE:CNK) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,948 shares of the company’s stock after selling 2,110 shares during the period. Advisors Capital Management LLC’s holdings in Cinemark were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. lifted its stake in Cinemark by 413.6% in the second quarter. Itau Unibanco Holding S.A. now owns 6,898 shares of the company’s stock worth $242,000 after purchasing an additional 5,555 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Cinemark by 30.3% in the second quarter. Envestnet Asset Management Inc. now owns 53,686 shares of the company’s stock worth $1,883,000 after purchasing an additional 12,489 shares during the last quarter. United Services Automobile Association lifted its stake in Cinemark by 1,793.4% in the second quarter. United Services Automobile Association now owns 315,306 shares of the company’s stock worth $14,113,000 after purchasing an additional 298,653 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in Cinemark by 105.1% in the second quarter. Neuburgh Advisers LLC now owns 20,416 shares of the company’s stock worth $716,000 after purchasing an additional 10,464 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its stake in Cinemark by 102.9% in the second quarter. Riverhead Capital Management LLC now owns 31,842 shares of the company’s stock worth $1,117,000 after purchasing an additional 16,150 shares during the last quarter. 99.39% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of Cinemark from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 9th. ValuEngine raised shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Zacks Investment Research lowered shares of Cinemark from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 16th. Imperial Capital started coverage on shares of Cinemark in a research report on Wednesday, July 11th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Barrington Research reaffirmed a “buy” rating and set a $47.00 target price on shares of Cinemark in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Cinemark presently has a consensus rating of “Hold” and a consensus target price of $41.59.
Cinemark (NYSE:CNK) last issued its earnings results on Wednesday, August 8th. The company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The company had revenue of $889.05 million for the quarter, compared to analysts’ expectations of $897.68 million. Cinemark had a return on equity of 19.49% and a net margin of 8.86%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. sell-side analysts anticipate that Cinemark Holdings, Inc. will post 1.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, August 31st. Cinemark’s dividend payout ratio (DPR) is presently 56.64%.
Cinemark Company Profile
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of June 30, 2018, the company operated 539 theatres and 5,998 screens.
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