GSA Capital Partners LLP Buys Shares of 7,585 Cinemark Holdings, Inc. (CNK)
GSA Capital Partners LLP bought a new position in Cinemark Holdings, Inc. (NYSE:CNK) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 7,585 shares of the company’s stock, valued at approximately $266,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments LLC increased its position in Cinemark by 64.1% in the second quarter. Atria Investments LLC now owns 11,466 shares of the company’s stock worth $402,000 after buying an additional 4,480 shares during the period. Royal Bank of Canada grew its stake in shares of Cinemark by 10.4% in the first quarter. Royal Bank of Canada now owns 110,946 shares of the company’s stock worth $4,179,000 after purchasing an additional 10,434 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Cinemark in the second quarter worth $511,000. Aperio Group LLC grew its stake in shares of Cinemark by 9.6% in the first quarter. Aperio Group LLC now owns 39,654 shares of the company’s stock worth $1,494,000 after purchasing an additional 3,486 shares in the last quarter. Finally, ARP Americas LP bought a new position in shares of Cinemark in the second quarter worth $1,045,000. 99.36% of the stock is currently owned by hedge funds and other institutional investors.
CNK has been the subject of several recent analyst reports. Morgan Stanley decreased their price target on Cinemark from $42.00 to $39.00 and set a “$34.56” rating for the company in a research note on Monday, July 23rd. Wedbush set a $43.00 price target on Cinemark and gave the stock a “buy” rating in a research note on Wednesday, August 8th. B. Riley reissued a “buy” rating on shares of Cinemark in a research note on Monday, August 6th. Zacks Investment Research raised Cinemark from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Wednesday, July 11th. Finally, Barrington Research reissued a “buy” rating and issued a $47.00 price target on shares of Cinemark in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Cinemark currently has a consensus rating of “Hold” and an average price target of $41.59.
Cinemark (NYSE:CNK) last announced its earnings results on Wednesday, August 8th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.05). Cinemark had a net margin of 8.86% and a return on equity of 19.49%. The firm had revenue of $889.05 million for the quarter, compared to the consensus estimate of $897.68 million. During the same period in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. sell-side analysts predict that Cinemark Holdings, Inc. will post 1.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 31st. This represents a $1.28 annualized dividend and a yield of 3.32%. Cinemark’s dividend payout ratio is currently 56.64%.
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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