Polar Asset Management Partners Inc. Sells 41,383 Shares of Cinemark Holdings Inc $CNK

Polar Asset Management Partners Inc. trimmed its holdings in shares of Cinemark Holdings Inc (NYSE:CNK) by 53.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,500 shares of the company’s stock after selling 41,383 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Cinemark were worth $995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CNK. EverSource Wealth Advisors LLC raised its stake in shares of Cinemark by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 507 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Cinemark during the second quarter valued at $47,000. Financial Consulate Inc. bought a new stake in Cinemark in the 3rd quarter worth about $50,000. Meeder Asset Management Inc. bought a new stake in Cinemark in the 3rd quarter worth about $63,000. Finally, Smartleaf Asset Management LLC raised its position in Cinemark by 20.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,027 shares of the company’s stock worth $83,000 after buying an additional 506 shares during the last quarter.

Insider Transactions at Cinemark

In other Cinemark news, EVP Melissa Thomas sold 7,944 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $26.05, for a total transaction of $206,941.20. Following the sale, the executive vice president directly owned 159,416 shares of the company’s stock, valued at $4,152,786.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

CNK has been the topic of several research analyst reports. UBS Group upgraded shares of Cinemark to a “buy” rating in a research note on Tuesday, January 20th. Barrington Research reissued an “outperform” rating and set a $32.00 price objective on shares of Cinemark in a report on Thursday, February 19th. Benchmark restated a “buy” rating on shares of Cinemark in a research report on Thursday, February 19th. The Goldman Sachs Group restated a “sell” rating and issued a $22.00 target price on shares of Cinemark in a report on Thursday, February 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cinemark in a research report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.08.

Cinemark Price Performance

Shares of NYSE:CNK opened at $26.41 on Friday. 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 Holdings Inc has a 1-year low of $21.60 and a 1-year high of $34.01. The company has a market capitalization of $3.05 billion, a P/E ratio of 30.35 and a beta of 1.08. The firm’s 50 day simple moving average is $25.56 and its two-hundred day simple moving average is $26.05.

Cinemark (NYSE:CNK) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $776.30 million during the quarter, compared to analysts’ expectations of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. Research analysts expect that Cinemark Holdings Inc will post 1.93 EPS for the current fiscal year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Tuesday, March 3rd. Cinemark’s dividend payout ratio is presently 41.38%.

Cinemark 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.