Horan Capital Advisors LLC. Has $2.08 Million Position in Cinemark Holdings Inc (CNK)
Horan Capital Advisors LLC. raised its stake in shares of Cinemark Holdings Inc (NYSE:CNK) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,461 shares of the company’s stock after buying an additional 389 shares during the period. Horan Capital Advisors LLC.’s holdings in Cinemark Holdings were worth $2,077,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of CNK. Vident Investment Advisory LLC acquired a new position in shares of Cinemark Holdings during the first quarter valued at $200,000. Welch & Forbes LLC purchased a new stake in Cinemark Holdings during the first quarter worth approximately $210,000. Advisors Asset Management Inc. increased its stake in Cinemark Holdings by 224.8% in the second quarter. Advisors Asset Management Inc. now owns 4,752 shares of the company’s stock worth $185,000 after buying an additional 3,289 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Cinemark Holdings during the first quarter worth approximately $213,000. Finally, Smithfield Trust Co. increased its stake in Cinemark Holdings by 1.5% in the second quarter. Smithfield Trust Co. now owns 5,730 shares of the company’s stock worth $223,000 after buying an additional 87 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.
Shares of Cinemark Holdings Inc (CNK) opened at 36.29 on Tuesday. Cinemark Holdings Inc has a 12 month low of $36.27 and a 12 month high of $44.84. The company’s 50-day moving average is $38.17 and its 200-day moving average is $41.15. The stock has a market capitalization of $4.20 billion, a PE ratio of 15.51 and a beta of 1.03.
Cinemark Holdings (NYSE:CNK) last issued its earnings results on Friday, August 4th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $751.20 million during the quarter, compared to analyst estimates of $751.72 million. Cinemark Holdings had a net margin of 9.12% and a return on equity of 20.98%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. Equities research analysts expect that Cinemark Holdings Inc will post $2.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.20%. Cinemark Holdings’s dividend payout ratio is currently 49.57%.
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CNK has been the subject of a number of research analyst reports. Barrington Research dropped their price objective on Cinemark Holdings from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Wedbush upped their price objective on Cinemark Holdings from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 4th. Credit Suisse Group downgraded Cinemark Holdings from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $38.00 to $34.00 in a report on Thursday, June 22nd. Morgan Stanley dropped their price objective on Cinemark Holdings from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, July 6th. Finally, ValuEngine downgraded Cinemark Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company 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.
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