Cinemark Holdings Inc (CNK) Holdings Boosted by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC boosted its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 235.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,945 shares of the company’s stock after purchasing an additional 27,343 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cinemark were worth $1,410,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CNK. Victory Capital Management Inc. boosted its position in Cinemark by 1,771.5% during the third quarter. Victory Capital Management Inc. now owns 3,510,900 shares of the company’s stock worth $127,129,000 after purchasing an additional 3,323,302 shares in the last quarter. FMR LLC lifted its position in shares of Cinemark by 17.5% in the second quarter. FMR LLC now owns 11,685,034 shares of the company’s stock valued at $453,963,000 after acquiring an additional 1,742,861 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Cinemark by 5,955.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 1,103,558 shares of the company’s stock valued at $40,236,000 after acquiring an additional 1,085,334 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Cinemark by 32.9% in the second quarter. Jennison Associates LLC now owns 3,988,676 shares of the company’s stock valued at $154,960,000 after acquiring an additional 988,361 shares in the last quarter. Finally, AXA lifted its position in shares of Cinemark by 1,227.3% in the second quarter. AXA now owns 504,240 shares of the company’s stock valued at $19,590,000 after acquiring an additional 466,250 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.
In related news, Director Lee Roy Mitchell sold 174,607 shares of Cinemark stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $36.72, for a total transaction of $6,411,569.04. Following the transaction, the director now owns 5,528,843 shares in the company, valued at $203,019,114.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have sold 474,607 shares of company stock worth $17,340,425. 9.20% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on the company. B. Riley restated a “buy” rating and issued a $47.00 target price on shares of Cinemark in a research report on Tuesday, December 5th. Credit Suisse Group decreased their target price on Cinemark from $34.00 to $30.00 and set an “underperform” rating on the stock in a research report on Thursday, September 28th. J P Morgan Chase & Co decreased their target price on Cinemark from $47.00 to $42.00 in a research report on Tuesday, August 22nd. Wedbush restated an “outperform” rating and issued a $44.00 target price on shares of Cinemark in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Cinemark in a research report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Cinemark currently has a consensus rating of “Hold” and an average price target of $42.31.
Cinemark Holdings Inc (CNK) opened at $35.35 on Friday. Cinemark Holdings Inc has a 1 year low of $32.03 and a 1 year high of $44.84. The company has a market capitalization of $4,117.11, a P/E ratio of 16.91, a P/E/G ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.46 and a current ratio of 1.50.
Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Cinemark had a return on equity of 18.43% and a net margin of 8.36%. The company had revenue of $710.70 million for the quarter, compared to analysts’ expectations of $702.60 million. During the same quarter in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. analysts forecast that Cinemark Holdings Inc will post 1.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.29 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.28%. Cinemark’s payout ratio is 54.98%.
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.
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