SG Americas Securities LLC Sells 666,129 Shares of Cinemark Holdings Inc $CNK

SG Americas Securities LLC cut its holdings in Cinemark Holdings Inc (NYSE:CNK) by 96.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,063 shares of the company’s stock after selling 666,129 shares during the quarter. SG Americas Securities LLC’s holdings in Cinemark were worth $658,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Orbis Allan Gray Ltd grew its stake in shares of Cinemark by 31.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock valued at $349,946,000 after buying an additional 3,563,810 shares during the period. Wellington Management Group LLP grew its position in Cinemark by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after purchasing an additional 742,307 shares during the period. Lavaca Capital LLC bought a new stake in Cinemark during the 4th quarter valued at $133,045,000. State Street Corp increased its stake in Cinemark by 1.5% during the 4th quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after purchasing an additional 60,176 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Cinemark during the fourth quarter worth $55,296,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNK. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Cinemark in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price target on Cinemark from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Zacks Research cut shares of Cinemark from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of Cinemark from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Finally, Wells Fargo & Company increased their price target on Cinemark from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.64.

Cinemark Price Performance

Shares of Cinemark stock traded up $0.23 during trading on Tuesday, hitting $30.18. The stock had a trading volume of 38,518 shares, compared to its average volume of 2,349,874. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 5.03. Cinemark Holdings Inc has a 12 month low of $21.60 and a 12 month high of $34.73. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 26.75 and a beta of 0.98. The business’s 50-day moving average is $29.90 and its 200 day moving average is $27.36.

Cinemark (NYSE:CNK) last released its quarterly earnings results on Friday, May 1st. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $643.10 million during the quarter, compared to analysts’ expectations of $632.74 million. Cinemark had a net margin of 5.31% and a return on equity of 41.31%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) EPS. As a group, sell-side analysts anticipate that Cinemark Holdings Inc will post 2.18 earnings per share for the current year.

Cinemark Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 28th. Cinemark’s dividend payout ratio is currently 31.86%.

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.