Luxor Capital Group LP Grows Stock Holdings in Cinemark Holdings Inc $CNK

Luxor Capital Group LP boosted its stake in Cinemark Holdings Inc (NYSE:CNK) by 35.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,135 shares of the company’s stock after acquiring an additional 60,370 shares during the period. Luxor Capital Group LP’s holdings in Cinemark were worth $6,476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Cinemark by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 507 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Cinemark in the second quarter valued at approximately $47,000. Financial Consulate Inc. acquired a new position in shares of Cinemark in the third quarter valued at approximately $50,000. Meeder Asset Management Inc. purchased a new stake in shares of Cinemark during the third quarter worth approximately $63,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Cinemark by 20.1% during the third quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after purchasing an additional 506 shares during the period.

Insider Activity at Cinemark

In related news, EVP Melissa Thomas sold 7,944 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $26.05, for a total transaction of $206,941.20. Following the sale, the executive vice president owned 159,416 shares of the company’s stock, valued at approximately $4,152,786.80. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by company insiders.

Cinemark Trading Up 2.6%

Shares of CNK stock opened at $26.44 on Tuesday. The business’s fifty day moving average price is $25.25 and its 200 day moving average price is $26.03. Cinemark Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.01. The firm has a market capitalization of $3.05 billion, a PE ratio of 30.39 and a beta of 1.08. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67.

Cinemark (NYSE:CNK) last released its earnings results on Wednesday, February 18th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $776.30 million during the quarter, compared to analyst estimates of $778.41 million. Cinemark had a net margin of 4.44% and a return on equity of 34.11%. Cinemark’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. As a group, sell-side analysts forecast that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Tuesday, March 3rd will be paid a $0.09 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.4%. Cinemark’s dividend payout ratio (DPR) is 41.38%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CNK. Wall Street Zen upgraded shares of Cinemark from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Wells Fargo & Company cut their price objective on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Zacks Research upgraded shares of Cinemark from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 price target (down from $35.00) on shares of Cinemark in a research note on Thursday, December 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cinemark from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.08.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.