BARING ASSET MANAGEMENT Ltd Invests $366,000 in Cinemark Holdings Inc (CNK)
BARING ASSET MANAGEMENT Ltd purchased a new stake in Cinemark Holdings Inc (NYSE:CNK) during the second quarter, Holdings Channel reports. The fund purchased 9,424 shares of the company’s stock, valued at approximately $366,000.
A number of other large investors have also modified their holdings of the company. BB&T Corp boosted its stake in shares of Cinemark Holdings by 0.3% in the second quarter. BB&T Corp now owns 23,182 shares of the company’s stock valued at $900,000 after buying an additional 70 shares during the period. Smithfield Trust Co. boosted its stake in shares of Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock valued at $223,000 after buying an additional 87 shares during the period. Atria Investments LLC boosted its stake in shares of Cinemark Holdings by 1.6% in the second quarter. Atria Investments LLC now owns 6,045 shares of the company’s stock valued at $235,000 after buying an additional 96 shares during the period. First Midwest Bank Trust Division boosted its stake in shares of Cinemark Holdings by 2.6% in the second quarter. First Midwest Bank Trust Division now owns 9,192 shares of the company’s stock valued at $357,000 after buying an additional 235 shares during the period. Finally, Denver Investment Advisors LLC boosted its stake in shares of Cinemark Holdings by 1.1% in the first quarter. Denver Investment Advisors LLC now owns 25,900 shares of the company’s stock valued at $1,148,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.
Shares of Cinemark Holdings Inc (NYSE CNK) opened at 35.61 on Friday. The company has a 50-day moving average price of $37.93 and a 200-day moving average price of $41.03. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 15.22 and a beta of 1.03. Cinemark Holdings Inc has a 12 month low of $35.58 and a 12 month high of $44.84.
Cinemark Holdings (NYSE:CNK) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $751.20 million for the quarter, compared to the consensus estimate of $751.72 million. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. Analysts forecast that Cinemark Holdings Inc will post $2.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Tuesday, August 29th. Cinemark Holdings’s dividend payout ratio (DPR) is presently 49.57%.
ILLEGAL ACTIVITY WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/baring-asset-management-ltd-invests-366000-in-cinemark-holdings-inc-cnk/1502871.html.
Several analysts have issued reports on CNK shares. B. Riley restated a “buy” rating and set a $53.50 price objective on shares of Cinemark Holdings in a report on Sunday, May 7th. MKM Partners reiterated a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Cinemark Holdings in a report on Wednesday, April 26th. ValuEngine upgraded Cinemark Holdings from a “hold” rating to a “buy” rating in a report on Friday, July 7th. Wedbush reiterated a “buy” rating on shares of Cinemark Holdings in a report on Monday, August 7th. Finally, BidaskClub upgraded Cinemark Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Cinemark Holdings currently has an average rating of “Hold” and a consensus price target of $43.14.
About Cinemark Holdings
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
Want to see what other hedge funds are holding CNK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cinemark Holdings Inc (NYSE:CNK).
Receive News & Ratings for Cinemark Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinemark Holdings Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.